Data due at 1200 GMT, Jan 12

BENGALURU, Jan 9 Reuters India39;s retail inflation likely edged up in December on higher food prices but stayed within the Reserve Bank of India39;s target range for a fourth consecutive month, according to a Reuters poll of economists.

Food prices, which account for about half of the inflation basket, rose in November and remained elevated last month, largely led by vegetable prices and household staples.

Inflation, measured by the annual change in the consumer price index CPI, rose to 5.87 in December from 5.55 in November, according to the median view from the Jan. 59 Reuters poll of 56 economists.

Forecasts ranged from 5.00 to 6.40, with around onethird predicting inflation to hit 6.00 the upper bound of RBI39;s 26 target range or above.

Food inflation continues to drive headline inflation higher … pulses, spices and vegetables have been firing up inflation and now even fruit prices are joining the fray, said Kunal Kundu, India economist at Societe Generale.

The RBI had raised the repo rate by a total 250 basis points bps since May 2022 in efforts to cool surging inflation, but has left them unchanged since April 2023 as price pressures eased. It is expected to keep the repo rate at 6.50 until at least the second half of this year, a separate Reuters poll found.

The poll showed headline inflation is expected to remain above the mediumterm target of 4.00 in coming months, and average 4.8 in the fiscal year starting in April….