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Will rising oil prices hasten a rate hike in India?

Likely shocks to inflation include: higher fuel prices, services reopening pressures, higher commodity prices, and better pricing power amid a cyclical growth upsurge

March 10, 2021 / 01:46 PM IST
Will rising oil prices hasten a rate hike in India?

Consumer price inflation data for February will be out later this week. A Reuters poll of over 50 economists has predicted that retail inflation will rebound to 4.83 percent from January’s 4.06 percent. As the vaccination drive accelerates and the economic recovery strengthens (read here and here), the spectre of inflation is raising its head. This is true, not only for India but across the world. What’s particularly worrying is the pressure from higher oil prices. We have argued elsewhere...

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