By Salmanul Farisy Jun 25, 2018 5:34:25 PM IST (Published)
The Reserve Bank of India’s (RBI) revised inflation projection of 4.8%-4.9% could be breached in first half of FY19 due to rising crude oil prices, said a report.
The Reserve Bank of India’s (RBI) revised inflation projection of 4.8%-4.9% could be breached in first half of FY19 due to rising crude oil prices, said a report.
Factoring in the evolving crude oil price situation, retail price inflation is expected to hit 4.6 percent in FY19 compared with 3.7 percent in FY18, according to a report by India Ratings and Research (Ind-Ra).
The surge in domestic fuel prices was a result of a sustained escalation in global crude oil prices last month. India imports up to 84 percent of its energy needs.