{"id":389420,"date":"2020-12-14T12:42:40","date_gmt":"2020-12-14T07:12:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=389420"},"modified":"2020-12-14T12:42:40","modified_gmt":"2020-12-14T07:12:40","slug":"crude-at-55-barrel-to-add-34-bps-to-headline-inflation-barclays","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-at-55-barrel-to-add-34-bps-to-headline-inflation-barclays\/","title":{"rendered":"Crude at $55\/barrel to add 34 bps to headline inflation: Barclays"},"content":{"rendered":"<p>Rising global crude oil price is seen to increase the already elevated inflation levels in the country, according to Barclays. \u201cWe estimate that a $10\/barrel increase in the price of crude oil, to $55\/barrel from $45\/bbl, which implies a Rs 5.8\/litre increase at the pump, would add about 34 basis points to headline inflation over three to six months, assuming no change to petroleum taxes,\u201d analysts at Barclays said.<\/p>\n<p>In the face of unprecedented tax revenue deficits this year, the Central government had hiked excise by Rs 10 per litre on petrol and Rs 13 per litre on diesel on May 5 (after raising taxes by Rs 3 per litre for both petrol and diesel on March 14). This did not allow consumers to gain from lower global oil prices of $20-30\/barrel in the March-May period, and helped the government\u2019s excise duty income to rise 41% annually to Rs 1.6 lakh crore in the April-October period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rising global crude oil price is seen to increase the already elevated inflation levels in the country, according to Barclays. \u201cWe estimate that a $10\/barrel increase in the price of crude oil, to $55\/barrel from $45\/bbl, which implies a Rs 5.8\/litre increase at the pump, would add about 34 basis points to headline inflation over three to six months, assuming no change to petroleum taxes,\u201d analysts at Barclays said. In the face of unprecedented tax revenue deficits this year, the Central government had hiked excise by Rs 10 per litre on petrol and Rs 13 per litre on diesel on [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-389420","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/389420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=389420"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/389420\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=389420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=389420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=389420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}