Unseasonal rain, crop loss could keep India's food inflation high
Imports are not an option because of high prices overseas after the war in Ukraine
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Imports are not an option because of high prices overseas after the war in Ukraine
Economists say annual headline inflation will likely start easing from September's 7.41% peak because of a jump in the index in corresponding months last year, but price pressures on grains, vegetable and milk will persist.
After grouping OPEC decided to cut output by 2 million barrels per day, crude oil prices have started rallying, which is a headwind for India
The Reserve Bank, which is scheduled to announce its bi-monthly monetary policy later this week, is expected to increase the repo-rate by 50 bps.
India's trade deficit more than doubled to USD 27.98 billion in August due to increased crude oil imports.