India's Inflation Soars to a 17-Month High on War Impact.

Persistent price pressures in the economy, evident from above-target inflation, nudged central bank policy makers last week to acknowledge that price stability required more focus than economic growth. Fuel and electricity prices rose 7.52%, while clothing and footwear accelerated 9.4% The RBI sees price growth accelerating further in the current quarter ending June, with inflation seen averaging 6.3% -- well above its 6% upper tolerance limit. The central bank last week revised its full-year inflation forecast to 5.7% from 4.5% previously, to reflect higher oil prices In other data, India factory output grew by 1.7% in February from a year ago ©2022 Bloomberg L.P. [Extracted from the article]