Further upside risks have stemmed from high international crude prices, their impact on freely priced petroleum products, the increase in administered coal prices and pick-up in non-food manufactured product prices.

FORBES: India Inflation Outlook Sours, Commodities Blamed; Real Rates Next to Zero

The company said "weak" sales in the UK were not helped by slowing demand for non-food items, particularly in electronics and entertainment, two of its largest product groups.

BBC: Tesco profits grow but UK sales subdued