944: Inflation at 8-Year High of 7.79 Percent – Who Will It Hurt the Most?

<div>The RBI’s unscheduled hike in repo rates on 5 May confirmed that the central bank was behind the curve in controlling inflation and now new data released by the National Statistical Office on 12 May shows exactly how behind.<br> <br> Retail inflation in India soared to its highest since May 2014 to 7.79 percent in April, almost double the RBI’s mandate of 4 percent and above the bank's estimates for the fourth straight month.</div> <div> <br> Here are a few numbers to indicate the current state of inflation: food price inflation is at a 17-month high of 8.38 percent, rural inflation is at a staggering 8-year high at 8.38 percent and urban inflation at 7.09 percent is at its highest in 18-months.</div> <div> <br> While the war in Ukraine and consequent rise in fuel prices is a significant factor in the spike, April's high inflation, according to media reports, is not one-off.</div> <div><br> </div> <div>So what is driving this inflation? who will be pinched the most, and what corrective measures can the central bank implement to control inflation?</div> <div> <br> To understand this, I spoke to Pallavi Nahata, Associate Editor of Economy at BQ Prime.<br> <br> <strong>Host and Producer: </strong>Himmat Shaligram</div> <div> <strong>Editor:</strong> Shorbori Purkayastha</div> <div><br> </div> <div> <strong>Music:</strong> Big Bang Fuzz</div> <div><br> </div> <div><strong>Listen to The Big Story podcast on:</strong></div> <div><br> </div> <div>Apple: <a href="https://www.youtube.com/redirect?q=https%3A%2F%2Fapple.co%2F2AYdLIl&amp;redir_token=G9sQMbbppKv-LEFD29gDyTmPMzt8MTU3MTM4MDU5NkAxNTcxMjk0MTk2&amp;v=xkpX1V6aUFo&amp;event=video_description">https://apple.co/2AYdLIl</a> </div> <div>Saavn: <a href="https://www.youtube.com/redirect?q=http%3A%2F%2Fbit.ly%2F2oix78C&amp;redir_token=G9sQMbbppKv-LEFD29gDyTmPMzt8MTU3MTM4MDU5NkAxNTcxMjk0MTk2&amp;v=xkpX1V6aUFo&amp;event=video_description">http://bit.ly/2oix78C</a> </div> <div>Google Podcasts: <a href="https://www.youtube.com/redirect?q=http%3A%2F%2Fbit.ly%2F2ntMV7S&amp;