Surging inflation complicates India’s pandemic recovery

Surging inflation complicates India’s pandemic recovery

India's surging inflation is adding to the country's economic woes, presenting challenges for businesses and policymakers alike as analysts warn of risks that could prevent prices of essential goods easing in the near future.

Wholesale price inflation jumped 12.94 per cent in May, a near 30-year high, driven by soaring fuel prices, while retail inflation hit a six-month peak of 6.3 per cent as food and fuel costs rose, exceeding the central bank's higher band and analysts' estimates, according to official data released this month.