Mumbai, Sept. 11 -- India's inflation may continue to rise in the near term, OPEC stated in its monthly report. Headline CPI inflation remained above the RBI's 4% target in July, rising to 4.5%, y-o-y, after 4.4%, y-o-y, in June, while food inflation increased to 5.5%, y-o-y. Price pressures remained stronger in rural areas, where headline inflation stood at 4.8%, compared with 4% in urban centres, reinforcing the importance of the monsoon and food-supply conditions for the near-term outlook, it said. The composition remains somewhat more reassuring than the headline figure, as underlying inflation excluding precious metals is still relatively subdued, but second-round effects remain the key risk, particularly through food prices, transpo...