Food prices likely pushed India inflation to 16-month high in March

BENGALURU: India’s retail inflation likely sped up to a 16-month high of 6.35% in March, well above the Reserve Bank of India’s (RBI) upper tolerance band for a third straight month, in part due to a sustained rise in food prices, according to a Reuters poll.

The full effect of the spike in crude oil and global energy prices following Russia’s invasion of Ukraine in late February is not expected to appear in consumer prices until April as the pass-through to consumers at fuel pumps was delayed.