India’s July inflation likely breached RBI’s 6% upper tolerance level: Poll

The forecast range was 4.85%-7.60%, with a strong three-quarters majority expecting it to surpass the central bank’s top end of the inflation target band, suggesting the food price surge was likely to persist at least for the next few weeks. If the poll median is correct, the current surge in inflation was likely to outstrip the 5.2% the RBI projects for this quarter.