From 2014 to 2024, India’s inflation saw significant fluctuations. Initially, inflation was high, driven by food prices and economic adjustments. By 2016-2017, it began to ease, aided by lower global oil prices and fiscal reforms like GST. However, the COVID-19 pandemic in 2020 caused supply chain disruptions, pushing inflation up. In 2022-2023, global factors like the Russia-Ukraine war exacerbated inflation, particularly in the food and energy sectors.
The Reserve Bank of India responded with interest rate hikes to control prices. By 2024, inflation began stabilizing but remained challenging due to global economic uncertainties and domestic supply issues.
Anirban Chakraborty
From 2014 to 2024, India’s inflation saw significant fluctuations. Initially, inflation was high, driven by food prices and economic adjustments. By 2016-2017, it began to ease, aided by lower global oil prices and fiscal reforms like GST. However, the COVID-19 pandemic in 2020 caused supply chain disruptions, pushing inflation up. In 2022-2023, global factors like the Russia-Ukraine war exacerbated inflation, particularly in the food and energy sectors.
The Reserve Bank of India responded with interest rate hikes to control prices. By 2024, inflation began stabilizing but remained challenging due to global economic uncertainties and domestic supply issues.
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