India’s inflation cheer also has a growing ‘core’ concern

Headline inflation easing to 2.8% in May 2025, driven by lower food prices, is a good signal for the Indian economy, CRISIL said. However, core inflation has stayed above 4% for four straight months, raising concerns. CRISIL attributed this to global volatility, especially gold prices, and warned that gold's high weight may distort India’s core inflation readings.