Commodity

India's near-term outlook is somewhat clouded by supply-side pressures, and the spillover impact of the West Asia conflict on domestic inflation needs to be monitored, according to the RBI Bulletin. While the global economy remained shadowed by uncertainties in West Asia, an article in the Bulletin said domestic economic activity exhibited resilience in April. The conflict in West Asia continued to exert pressure on commodity markets, global trade flows and supply chains, contributing to the volatility in financial markets. India has entered this phase from a position of macroeconomic strength, the article on the state of the economy said.

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