Crisil warns ₹7.5/l fuel rise could lift prices in India
Business
Fuel prices in India have jumped by ₹7.5 per liter since May 15, and Crisil warns this could soon push up the price of just about everything, from groceries to gadgets.
If global oil rates keep climbing, we might see even bigger hikes at the pump.
Crisil estimates inflation could rise
Crisil estimates these fuel hikes could nudge inflation higher, making essentials like dairy, fruits, and meat more expensive as transport costs rise.
Industries like clothing and electronics may also pass on higher costs to shoppers.
The Reserve Bank of India is expected to monitor inflation risks.