India's Inflation Accelerates as High Energy Prices Start to Bite

Inflation in India, the world’s third-biggest crude oil importer, accelerated in April as the higher global oil and gas prices started to feed through consumer prices. The annual consumer price index (CPI) is expected to have jumped to 3.8% in April, up from 3.4% in March, a Reuters poll of 46 economists showed on Friday. Responses in the poll, carried out between May 4 and May 8, ranged from 2.8% to 4.2%. Official data is expected on May 12. All economists concur that the effects of the higher energy prices have begun to take their toll…