Direct impact of 10% increase in oil prices estimated to be around almost 1% on WPI: Bank of Baroda
New Delhi [India], March 6 (ANI): A 10 per cent increase in global oil prices is estimated to have a direct impact of approximately 0.7-1 per cent on India's Wholesale Price Index (WPI). According to a report by Bank of Baroda on the Middle East crisis, the overall effect could reach a 1 per cent increase in WPI inflation when indirect impacts are included.
As per the report, the external position of the economy