India June wholesale inflation at 10.55 pct y/y-govt

NEW DELHI, July 14 (Reuters) - India's wholesale price index (WPI) INWPI=ECI rose an annual 10.55 percent in June, slower than analysts' expectations, driven by high food and fuel prices, government data showed on Wednesday.

The data compared with the median forecast for a 10.8 percent rise in a Reuters poll and was higher than May's annual rise of 10.16 percent.

The annual reading for April was revised up to 11.23 percent from 9.59 percent.

Policymakers hope that good monsoon rains will produce a strong harvest that should cool soaring food prices later this year. But a hike in fuel prices last month is expected to drive up inflation by about one percentage point.

The Reserve Bank of India (RBI) is widely expected to raise key interest rates by another 25 basis points at its monetary policy review on July 27 to curb inflationary pressures, after it surprised markets early this month by lifting policy rates by a quarter point. [ID:nSGE6610I8] [ID:nBMA007957]

The wholesale price index is more closely watched than the consumer price index (CPI) in India because it covers a higher number of products. (Reporting by Rajesh Kumar Singh; editing by Malini Menon)