India's inflation accelerates to 7% in August

By Aysu Bicer

ANKARA (AA) - India's inflation on Monday quickened to 7% in August from 6.71% a month earlier.

Food prices, which make up about half of the CPI basket, rose 7.62% in August, compared to a revised 6.69% in July, according to data released by the National Statistical Office on Monday.

While a slowdown was observed in fuel and light segment (10.78% vs 11.8%), housing rose by 4.06% compared to 3.9% in July.

On monthly basis, consumer prices were up 0.52%.

These figures can add pressure on the country's central bank to hike interest rates more aggressively in the coming months in order to fight inflation.