BENGALURU- Indian retail inflation likely slipped marginally in February, thanks to lower food prices, according to economists in a Reuters poll who still warned that surging oil prices will push inflation much higher in the coming months.
Following Russia’s invasion of Ukraine, crude oil prices have skyrocketed – in March alone, they have surged about 35 percent – which will in turn push up fuel, transport and other related components of inflation this month.
Inflation, as measured by the consumer price index (CPI), likely slipped to 5.93 percent in February on an annual basis, from 6.01 percent in January, the March 3-9 poll of 36 economists predicted.
Forecasts for the data, due for release on March 14 around 1200 GMT, ranged between 5.70 percent and 6.40 percent. Over one-quarter of respondents expected inflation to have remained above the RBI’s 6.0 percent upper threshold. — Reuters
