India’s retail inflation inched up to 3.48% in April as food prices firmed up, but the bigger worry for policymakers is rapidly shifting beyond groceries to the mounting fallout from soaring global energy prices and a weakening rupee amid the escalating conflict in West Asia.
Data released on Tuesday showed consumer inflation rising from 3.4% in March, though the reading still came in below a Reuters projection of 3.8%. Even so, April marked the highest inflation print under India’s revamped CPI series launched earlier this year with a revised consumption basket and new base year.
