India’s annual inflation rate rose for the first time in five months, hitting 4.81% in June from a revised 4.31% in May, surpassing market predictions of 4.58%. Food inflation increased to 4.99%, up from 2.91% in May. Notably, the costs of fuel and light increased by 3.9%, and housing rose by 4.6%. The central bank, which targets a 2-6% inflation range, is aiming to maintain it around the midpoint of 4%. Meanwhile, India’s industrial production grew by 5.2% YoY in May, faster than the 4.2% increase in the previous month and above market expectations of 4.8%.