India August retail inflation expected below 7% – Motilal Oswal’s Gupta

India's annual retail inflation in August is expected to fall below 7% after unexpectedly rising to a 15-month-high of 7.44% in July, an economist at Motilal Oswal said on Thursday. "I think we must look at the drivers of higher inflation in India and not unnecessarily be worried about vegetable-led headline data," Nikhil Gupta, economist, institutional equities research at Motilal Oswal, said in an interview on the Reuters Trading India forum. Gupta was the only economist who forecast July's retail inflation above 7% in the Aug. 3-8 Reuters poll of 53 economists, coming closest to the actual number released on Monday.