The out-of-turn rate hike by the Reserve Bank of India (RBI) earlier in May was only a teaser of India’s worrying inflation story. April’s inflation data released on May 12 indicated that the country’s growth story faces several hurdles.
Stagflation Shadow On The World
Rising inflation, high unemployment and depreciating currencies have given birth to a vicious cycle that could very well dismantle the fragile post-Covid recovery. Can India escape this fate?