Inflation gallops to 8-year high, raising the odds of a rate hike in June
- Food inflation jumped to 8.38% from 7.68% in March, government data released on Thursday showed.
- Meanwhile, the industrial output, as measured by Index of Industrial Production rose 1.9% in March.
Consumer prices continued to rise in April with inflation galloping to eight-year high of 7.79%, increasing pressure on Reserve Bank to consider more rate hikes in the coming days.
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