NEW DELHI: Indian inflation accelerated to 11.63 percent in late June, above forecasts and its highest since the series began in 1995, raising the likelihood of an interest rate increase this month to follow two hikes in June. The data was leaked early to newspapers, sending the benchmark 10-year bond yield to a seven-year high of 8.99 percent in early trade as inflation topped a consensus forecast for 11.44 percent and is now expected to rise beyond 12 percent soon. The Reserve Bank of India (RBI) raised its key lending rate twice in June, taking it to 8.5 percent. Economists polled by Reuters last week expect the central bank to raise the rate, known as the repo, by another 25-50 basis points in the fiscal year to March. "The momentum in inflation continues to accelerate and that is a worrying sign. With rising input costs,...
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