As inflation based on wholesale prices rose to 3.18 per cent in April, India Inc today said the cascading impact of rising crude oil prices would be one of the key worry areas for India's economy going forward.
Even more worrying is the fact that these levels are on a very high base in the same month last fiscal. Going forward, increasing crude oil prices and their cascading impact would be one of the key worry areas for Indian economy, Assocham Secretary General D S Rawat said.
According to government data released today, inflation in food articles was at 0.87 per cent in April 2018, as against a deflation of 0.29 per cent in the preceding month.
Deflation in vegetables was 0.89 per cent in April, while in the previous month it was 2.70 per cent.
Inflation in 'fuel and power' basket rose sharply to 7.85 per cent in April from 4.70 per cent in March as prices of domestic fuel increased in line with rising global crude oil rates.
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