Explainer: Why rupee's fall, oil prices are worrying India
Business
The rupee is sliding close to ₹93 per US dollar, and inflation just hit a 10-month high in India.
This spike is mainly because global oil prices are rising due to Middle East tensions, which has raised concerns about inflation and could prompt the RBI to revise its inflation outlook or policy stance.
Inflation is already rising in India
Prices for everyday things, especially food and anything imported, are climbing.
Retail inflation reached 3.21% in February (up from January), with food costs leading the way.
If oil stays expensive, gasoline, diesel, and even gadgets could get pricier.
Inflation is currently within the RBI's 2-6% target range, though global energy shocks have raised uncertainty about whether it will remain so.