India's consumer inflation continued to ease in July, dropping for a ninth straight month to 1.55%, below analysts' estimates, government data showed Tuesday.

The headline inflation rate fell on the back of declining growth in food prices, to its lowest level since June 2017. Economists polled by Reuters had estimated July inflation at 1.76%.

Food inflation, which is a key component of the consumer price index, came in at -1.76%, lower than the -1.06% print in June.

The inflation reading comes after the Reserve Bank of India held rates at 5.5% in its policy meeting last week. The RBI said that the inflation outlook for the fiscal year ending March 2026 "has become more benign than expected," adding that this was due to healthy sowing of autumn crops, as well as a comfortable buffer stoc

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