India's wholesale inflation quickens to 3-1/2-year high of 8.3% as energy costs soar
Yahoo Finance·- India's wholesale price inflation unexpectedly rose to 8.3% in April, the highest level in three and a half years, primarily driven by soaring energy prices due to Middle Eastern conflicts. - This increase is significantly above March's 3.88% rise and the economists' forecast of 4.4%. - Fuel and power prices surged by 24.71% year-on-year in April, while wholesale food prices rose by 2.31% during the same period.India central bank governor says may need to act if inflation pressures deepen
Yahoo Finance·- The Reserve Bank of India's Governor Sanjay Malhotra indicated that monetary policy can overlook temporary supply shocks, but may intervene if inflation pressures become entrenched due to escalating oil prices from the Iran conflict. - He highlighted the need for potential fuel price increases and emphasized the importance of coordinating fiscal and monetary policies. - During the April monetary policy review, the RBI opted for a wait-and-see approach, advocating for flexibility and a cautious, data-driven strategy in uncertain conditions.