ME instability triggers uncertainty in commodity prices

Kolkata: Global information provider Dun & Bradstreet (D&B) in its latest report said geo-political conflicts pose risk to global economic activity, potentially stalling growth momentum seen in industrial activities.The report said that worries about the price pressure persist, especially due to geo-political conflicts that could keep the crude oil prices elevated.

The instability in the Middle East introduces an element of uncertainty in the global commodity prices. Furthermore, inflation in cereals and pulses remain high, while vegetable prices have started to stabilise, it said. About the external sector, the report said D&B expects the consumer price index to be at 4.7 per cent and wholesale price index at minus 0.5 per cent for October 2023. The rupee will witness minimal relief as the federal reserve is expected to maintain higher interest rates for a longer period.