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The increases could have political implications, with economic issues likely to be top of mind for many voters in November’s midterm elections.

The US vice president insisted that his country would not reopen talks with Iran until it ended attacks on commercial shipping.

Growth slowed from 8.6% in the previous quarter but exceeded the RBI's 7% forecast, with domestic activity cushioning global headwinds.

Trump's war has stretched on far longer than he told Americans it would. It didn't stop him from sharing a social media post this week declaring "MISSION ACCOMPLISHED 2026."

Diplomatic efforts, spearheaded by mediators including Pakistan and Qatar, have tried for months to bring an end to the war started by the US and Israel in late February to no avail.