India’s Wholesale Price Index Inflation accelerates to 9.68% YoY in May
India’s Wholesale Price Index (WPI) Inflation data for May arrives at 9.68% Year-on-Year (YoY), higher than 9.1% estimates and the previous reading of 8.3%.
There has been no immediate reaction by the Indian Rupee (INR) after higher-than-projected India's WPI Inflation data release. However, it has been trading strongly since its opening against the US Dollar (USD) due to a juggernaut decline in oil prices. As of writing, USD/INR trades 0.54% lower at around 94.59, the lowest level seen in two weeks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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