New Delhi, July 14: Higher fuel prices pushed up inflation to 10.55 per cent in June, which may prompt the Reserve Bank to hike its key policy rates further in its forthcoming review of the monetary policy.
The wholesale price-based inflation is likely to move up further next month as the hike in petroleum products will have its full impact only by then and the central had already said that tackling inflation would be its top priority.
The effect of the fuel price hike was quite evident, as kerosene prices rose by 9 per cent in June, LPG by 3 per cent, petrol by 2 per cent and diesel by 1 per cent.
Overall, the category of fuel, power, light and lubricants contributed to 1.
–Agencies