India’s Inflation Accelerates as Oil Prices Set to Spike Further

India’s inflation accelerated in February before the conflict in the Middle East, putting pressure on policymakers as disruption to energy supplies push up prices of oil and gas.

The consumer price index, which shifted to a new base with revised weights in January, rose 3.21 % from a year earlier, the Statistics Ministry said on Thursday. The reading was slightly higher than the 3.14% median estimate in a Bloomberg survey of economists, and compares with a revised 2.74% in January.