India's consumer price inflation notched up marginally to 5.77 percent in June from a year earlier, official data showed Tuesday, with hopes dimming of a possible slash in interest rates. The acceleration from May's 5.76 percent and 5.4 percent in April was mainly driven by higher food prices, economists said, adding the rate was uncomfortably higher than the central bank's target.
Outgoing Reserve Bank of India (RBI) governor Raghuram Rajan has set a medium-term goal of controlling inflation at five percent by March 2017.
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