(T.E.T)
Wholesale inflation in India could rise 50-70 basis points if oil remains elevated at $100 per barrel for a month, economists said. While a $10 rise in oil could lead to a 20 basis point increase in retail inflation, the impact would depend on a cut in excise duties, warranting rate hikes by the second half of this year.
Brent crude oil crossed $100 a barrel on Thursday for the first time since 2014 prompted by the Russia-Ukraine conflict.
