July retail inflation accelerates to 2.36% on higher vegetable prices

This, after easing for three straight months; food inflation saw deflationary pressure at (-) 0.29%

"It's too early to say if inflation in India is undergoing a structural shift. By March 2018, expect overall inflation to be below 4%. The only caveat to this are food prices since right now we are seeing only vegetable prices going up. I think the RBI is cautious, but not behind the curve when it comes to cutting rates. There are a few factors like the U.S. Fed contracting balance sheet in September and also the question of farm loan waivers," said Puneet Pal, head of fixed income, BNP Paribas Mutual Fund.