India's annual retail inflation accelerated to 4.45% in July, according to data from the Ministry of Statistics and Programme Implementation (MoSPI) released on Wednesday.

The reading was lower than the consensus forecast of 4.5% tracked by Investing.com, and compared with the 4.38% pace recorded in the previous month.

Food inflation, measured by the Consumer Food Price Index, rose to 5.52% from 5.32% the prior month, while housing inflation edged up to 2.22% from 2.1% in June.