Depreciation in the value of rupee pushed India's headline inflation higher in June, a recent poll by Reuters indicated.

According to the poll of twenty-five economists, the country's key inflation measure, wholesale price Index, jumped an annual 4.9 per cent last month. In May, the index was recorded at 4.7 per cent, which was the lowest level in more than three years.

Despite the considerable month-on-month increase in inflation, it remained slightly below the 5 per cent mark the Reserve Bank of India (RBI) is thought to be comfortable with.

Commenting on the findings, Phillip Capital economist Anjali Verma said, "This time incrementally inflation is expected to be higher across the three segments, food, fuel and manufacturing. For food, largely the reason is (costlier) fruits and vegetables and for the other two segments it is largely the currency weakness."

The rupee has suffered a huge depreciation in its value against the US dollar over the past few weeks. Last Monday, it slipped to its record low of 60.21 per US dollar.

India is one of the biggest importers of crude oil and any depreciation in the value of the domestic currency makes imports more expensive. Therefore, the falling value of rupee is threatening to further widen the country's current account deficit (CAD), which jumped to its all-time high of 4.8 per cent of gross domestic product (GDP) in the FY2012-13.