Food & fuel remain main drivers of inflation in India: Moody's
Moody’s Investors Service has listed food and fuel as key drivers of retail inflation in India. Both, food and fuel, contribute to almost half of retail inflation in India and represent a larger share of the consumption basket. Moody’s further stated that central banks of emerging economies (EM) like India have built up a cushion of international reserves, which are being used to intervene in foreign exchange markets. This ensures an orderly and limited depreciation of domestic currencies, it added.