June CPI Y/Y 4.38% vs 4.30% expectedPrior 3.93%Full report hereIndia's annual inflation rate rose to 4.38% in June, breaching the central bank's medium-term target for the first time in 16 months, driven primarily by rising food and fuel costs amid geopolitical tensions in the Middle East and a delayed monsoon.The inflation print came in higher than the 4.3% forecast and marked a significant acceleration from the 3.93% recorded in May, according to data released by the Ministry of Statistics and Programme Implementation.The latest reading puts renewed pressure on the Reserve Bank of India (RBI), which has a mandate to keep headline inflation at 4% within a tolerance band of 2% to 6%. The central bank had held its key repo rate steady at 5.25% at its last policy meeting, but the faster-than-expected rise in prices may prompt policymakers to adopt a more hawkish stance in upcoming meetings. Upward risks to the inflation outlook remain as ongoing hostilities in the Middle East threaten further energy price shocks This article was written by flfeaa2662d774455a8d50fa77b791ed5f at investinglive.com.