That’s faster than the 4.4 percent Bloomberg consensus.Monday’s data -- the final price print before the Reserve Bank of India’s policy review on June 6 -- adds to concerns that crude oil prices holding at current levels will fan inflation in Asia’s third-largest economy. The Reserve Bank of India expects oil prices averaging around $78 a barrel to stoke inflation by 30 basis points.Brent crude averaged $71.76 a barrel in April, according to data compiled by Bloomberg. Bonds are poised to decline for the ninth month out of 10 amid concerns this might push the consumer-price inflation targeting central bank to raise interest rates sooner than later.“Today’s inflation number is very ugly. It’s way above expectations,” Rupa Rege Nitsure, chief economist at L&T Finance Holdings Ltd. in Mumbai, adding that fuel prices are a worry. That hardening in stance on inflation led to a selloff in bonds in April.

Source: Economic Times May 14, 2018 14:26 UTC