India's inflation surpasses the Reserve Bank of India's target for the first time in 17 months

```htmlGolden Ten Data reported on July 13 that India's inflation accelerated in June, marking the first time in nearly a year and a half it exceeded the Reserve Bank of India’s target level, prompting policymakers to remain vigilant. Official data released on Monday showed India's Consumer Price Index (CPI) rose 4.38% year-on-year in June, higher than May's 3.93% and the economists' median forecast of 4.20%, also surpassing the Reserve Bank of India (RBI)'s 4% inflation target. However, it remains within the RBI's tolerance range of 2% to 6%. As inflation rebounded, recent price hikes by state-owned retailers in India kept fuel retail prices elevated. After a brief ceasefire, a new round of conflict erupted between the US and Iran, reigniting market concerns over shipping in the Strait of Hormuz.```