Ukraine Crisis to Test RBI Inflation Goal, Oxford Economics Says
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The current geopolitical tensions and rising oil prices could hurt India’s economic growth and push inflation above the central bank’s target ceiling of 6%, according to Oxford Economics Ltd.
“It’s looking quite worrisome,” said Priyanka Kishore, head of India and Southeast Asia at Oxford Economics, who estimates every $10 per barrel increase in oil shaves off about 0.2 percentage points from full-year growth and adds about 0.4 percentage points to inflation.