But official figures yesterday showed inflation held steady at 2.4 per cent in June, confounding predictions it would rise to 2.6 per cent.
"As a base case, we expect the RBI to remain cautious and possibly deliver another 25 bps rate hike in August given risks of further broad-based increase in core inflation, impact of minimum support price (MSP) hikes, and lower crop production given the progress of monsoon and sowing pattern", the report said.
Inflation remained at a one-year low in June and did not rise in line with expectations, raising questions over whether the Bank of England will lift interest rates next month.
The pound fell against the dollar following the surprise reading, slipping 0.60% to $1.3037.
Mike Hardie, its head of inflation, explained: "Consumers have been feeling the benefit of the summer clothing sales, and computer game prices have also fallen".
Ruth Gregory, senior United Kingdom economist at Capital Economics, a consultancy, said that a move next month remains "more likely than not", but said that CPI will likely fall back later in the year.
Theresa May steps back from brink with narrow Brexit victory
While praising the PM's "courage and resilience", he said her Chequers plan would see the United Kingdom in "miserable limbo". Ms Swinson posted on Twitter: "This is calculated, deliberate breaking of trust by government whips to win at all costs".
"However, gas and electricity and petrol prices all rose, with consumers seeing the highest price at the pump for almost four years, with inflation remaining steady overall".
While it said it was normal for prices to drop at this time of year due to the start of the summer sales season, the ONS said the fall was the largest since 2012 and "the effect came mainly from men's clothing".
Today's data raises the prospect of the Bank of England raising interest rates at a time when inflation has stagnated, wage growth remains tepid, the United Kingdom faces political chaos at home, and the prospect of a damaging trade war hangs over the global economy.
She added: "Lower inflation might make it easier for the MPC to raise rates as it will relieve the pressure on consumers' incomes".
But Ben Brettell, Senior Economist, Hargreaves Lansdown, said that June's figure meant it is not "a done deal".
In 1931, Lemaitre realised that if the universe is ever expanding, it must have originated from a small, concentrated state. He studied physics at the University of Cambridge, Harvard University and the Massachusetts Institute of Technology (MIT).
Melania, who is a few inches taller than the ex-spy strongman, also smiles during the handshake in an apparently natural way. However, before the explosive press conference took place, viewers spotted a odd expression on Melania Trump's face.
Mark Zuckerberg's former mentor has claimed Facebook permits unsafe content because it is like "crack cocaine" for web users. It's all about making money at the end of the day", an unnamed Facebook moderator allegedly told the filmmakers.
And on Wednesday, Trump responded "no" when asked whether Russian Federation was still trying to interfere in American elections. During the press briefing, Sanders said Trump was saying "no" to taking more questions, not answering Vega.
Miller exited the show after four seasons, saying at the time that it was a mutual decision between himself and HBO. To those on the show Wetterlund alleges were "complicit" in Miller's behavior, she wrote, "They can f- off forever".
Then I knew I had to win because the next big fight was already being lined up, as it is with Wilder back here in April. When he is fighting it me it will be straight and clean fight. "First of all, I have been cleared of that suspension".
Morrisons hosts autism friendly shopping hour
David Turvey at Morrisons Welwyn Garden City said: "Our initial trials showed there is a need for a quieter shopping experience". Morrisons supermarket in Hunslet is to introduce a quieter hour for customers who would benefit from a calmer shopping trip.
Trade war the U.S. is gaining momentum
Trade Representative proposed a second possible tariff hike following a measure targeting $34 billion of goods. Analysts claimed that increasing trade tensions could lead to a bigger impact on investment and exports.
2 children bitten in suspected shark attacks
Warning: Graphic photo She was able to walk to shore with assistance from her caregiver before she was taken to the hospital. The girl was able to walk to shore with help from her caregiver and was treated at a hospital.
A dozen new moons found orbiting Jupiter, pushing total to 79
Kenneth Chang at The New York Times reports that Jupiter was scheduled to pass through their search area, so astronomer Scott S. Sheppard said. "Valetudo's going down the highway the wrong way, so it's very likely it will collide with these other objects".
Roma accept Liverpool transfer bid for Alisson
Wednesday proved to be a breakthrough day as far as agreeing on a deal with AS Roma for the transfer of Alisson is concerned. Let's take a look at Alisson's profile and what he brings to Liverpool .
Bacon, hot dogs, bad for mental health
Other research also found that rats displayed mania-like behavior after eating foods with added nitrates for just a few weeks. Seva Khambadkone, a fellow researcher at Johns Hopkins, said mania is a complex mental state.