New risk: A file picture showing an auto-rickshaw at a Hindustan Petroleum Corp station in India. Rising oil prices add a new risk to already surging inflation in India. — Bloomberg
NEW DELHI: Rising oil prices add a new risk to already surging inflation in India, clouding the outlook for monetary policy and threatening a nascent rally in sovereign bonds.
Oil briefly rose above US$70 a barrel last week for the first time since September amid US-Iran tensions, and while they’ve since eased, prices remain elevated compared to last year.
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