EY’s Moda says higher crude could lift India inflation
In short
EY’s Gaurav Moda said higher crude prices could raise India’s inflation by up to 1 percentage point. He said crude has risen from about $60-65 a barrel to $90-95.
He also said India is trying to keep oil supplies secure during geopolitical uncertainty. The report does not say when the inflation impact will appear or what officials will do next.
What the reporting says
Gaurav Moda of EY India said rising crude oil prices could push India’s inflation up by as much as 1 percentage point, according to a publisher-supplied summary. He noted crude has moved from an average of $60-65 a barrel to $90-95, increasing India’s energy import costs amid geopolitical uncertainty. The report does not state when the inflation effect would show up or whether policymakers have responded.
Why it matters
Gaurav Moda’s comments link a jump in crude prices to higher energy import costs for India and a possible inflation increase of up to 1 percentage point. The piece says India is still prioritising supply security because of geopolitical uncertainty, but it does not provide a policy response or timing. The World Bank inflation figures are included as context only and do not establish a forecast.