π India WPI at 8.30% is a 42-month high, and Hormuz has turned a Gulf supply shock into a central bank problem across EM
The day in view
π India WPI at 8.30% is a 42-month high, and Hormuz has turned a Gulf supply shock into a central bank problem across EM
India's WPI hit 8.30% in April 2026, a 42-month high, with crude petroleum up 67.18% year-on-year on Hormuz disruption. The RBI faces a policy trap: WPI-to-CPI pass-through could breach the 5% tolerance band by Q3 2026.