
{"id":15629,"date":"2026-08-18T14:54:24","date_gmt":"2026-08-18T09:24:24","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=15629"},"modified":"2026-08-17T16:02:53","modified_gmt":"2026-08-17T10:32:53","slug":"macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/","title":{"rendered":"Macro Monthly: Inflation Print, Rupee Movement, Crude Prices, and the Bond Market Reaction"},"content":{"rendered":"<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">\ud83d\udcdd Quick Summary:<\/div>\n<h2 class=\"gpi-custom-widget-h2-content\"><span class=\"ez-toc-section\" id=\"Once_a_month_we_bring_the_big_economic_numbers_into_one_place_and_explain_how_they_fit_together_As_of_the_June_2026_reading_released_in_July_2026_Indias_retail_inflation_CPI_was_438_up_from_393_the_month_before_Source_CNBC_and_Reuters_July_2026_The_rupee_was_trading_weak_near_96_to_the_US_dollar_and_crude_oil_stayed_high_on_the_conflict_in_West_Asia_These_are_not_separate_stories_Oil_moves_the_rupee_the_rupee_moves_inflation_and_together_they_set_the_tone_for_bonds_Here_is_how_they_linked_up_over_July_2026\"><\/span>Once a month, we bring the big economic numbers into one place and explain how they fit together. As of the June 2026 reading, released in July 2026, India&#8217;s retail inflation (CPI) was 4.38%, up from 3.93% the month before (Source: CNBC and Reuters, July 2026). The rupee was trading weak, near 96 to the US dollar, and crude oil stayed high on the conflict in West Asia. These are not separate stories. Oil moves the rupee, the rupee moves inflation, and together they set the tone for bonds. Here is how they linked up over July 2026.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n\n\n<p>Four numbers describe the state of the Indian economy each month: retail inflation, the rupee, crude oil, and the government bond yield. This roundup takes each in turn and shows how one feeds the next.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/#Once_a_month_we_bring_the_big_economic_numbers_into_one_place_and_explain_how_they_fit_together_As_of_the_June_2026_reading_released_in_July_2026_Indias_retail_inflation_CPI_was_438_up_from_393_the_month_before_Source_CNBC_and_Reuters_July_2026_The_rupee_was_trading_weak_near_96_to_the_US_dollar_and_crude_oil_stayed_high_on_the_conflict_in_West_Asia_These_are_not_separate_stories_Oil_moves_the_rupee_the_rupee_moves_inflation_and_together_they_set_the_tone_for_bonds_Here_is_how_they_linked_up_over_July_2026\" >Once a month, we bring the big economic numbers into one place and explain how they fit together. As of the June 2026 reading, released in July 2026, India&#8217;s retail inflation (CPI) was 4.38%, up from 3.93% the month before (Source: CNBC and Reuters, July 2026). The rupee was trading weak, near 96 to the US dollar, and crude oil stayed high on the conflict in West Asia. These are not separate stories. Oil moves the rupee, the rupee moves inflation, and together they set the tone for bonds. Here is how they linked up over July 2026.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/#The_Inflation_Print\" >The Inflation Print<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/#The_Rupee_Movement\" >The Rupee Movement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/#The_Crude_Oil_Price\" >The Crude Oil Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/#The_Bond_Market_Reaction\" >The Bond Market Reaction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/#Frequently_Asked_Questions\" >Frequently Asked Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/#Disclaimer\" >Disclaimer<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<p>Retail inflation is the place to start, because it is what the RBI tries to control and what slowly eats into the real value of your savings. It shapes everything else.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Inflation_Print\"><\/span><strong>The Inflation Print<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As of the June 2026 reading, released in July 2026, India&#8217;s retail inflation (CPI) stood at 4.38%, up from 3.93% the previous month and the highest since December 2024 (Source: CNBC and Reuters, July 2026).<\/p>\n\n\n\n<p>The rise was driven by fuel and food. Transport costs went up as the conflict in West Asia lifted oil prices, and food inflation climbed to 5.32%, pushed by a weak monsoon and dearer vegetables. So retail inflation rose mostly for reasons outside the domestic economy, global shocks rather than runaway home demand.<\/p>\n\n\n\n<p>Wholesale inflation (WPI), a separate measure, ran much hotter at 9.87% for June 2026, well above the retail figure, because it carries a bigger weight of fuel and raw materials (Source: APAC News, July 2026). CPI is the one the RBI targets, and at 4.38%, it still sits inside the RBI&#8217;s 2% to 6% band, though it is climbing toward the middle.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Latest Bond Updates:<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/jal-jeevan-mission-esg-debt-how-india-is-financing-water\/\" aria-label=\"Jal Jeevan Mission &amp; ESG Debt: How India Is Financing Water\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18174418\/Jal-Jeevan-Mission-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Jal Jeevan Mission\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18174418\/Jal-Jeevan-Mission-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18174418\/Jal-Jeevan-Mission-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18174418\/Jal-Jeevan-Mission-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18174418\/Jal-Jeevan-Mission-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18174418\/Jal-Jeevan-Mission.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/jal-jeevan-mission-esg-debt-how-india-is-financing-water\/\">Jal Jeevan Mission &amp; ESG Debt: How India Is Financing Water<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/indias-green-hydrogen-mission-can-green-bonds-fund-the-transition\/\" aria-label=\"India&#8217;s Green Hydrogen Mission: Can Green Bonds Fund the Transition?\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/19153111\/India-Green-Hydrogen-Mission-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"India Green Hydrogen Mission\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/19153111\/India-Green-Hydrogen-Mission-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/19153111\/India-Green-Hydrogen-Mission-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/19153111\/India-Green-Hydrogen-Mission-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/19153111\/India-Green-Hydrogen-Mission-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/19153111\/India-Green-Hydrogen-Mission.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/indias-green-hydrogen-mission-can-green-bonds-fund-the-transition\/\">India&#8217;s Green Hydrogen Mission: Can Green Bonds Fund the Transition?<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/sovereign-gold-bond\/sgb-capital-gains-tax-after-budget-2026-why-secondary-market-buyers-now-pay\/\" aria-label=\"SGB Capital Gains Tax After Budget 2026: Why Secondary Market Buyers Now Pay\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18145839\/SGB-Capital-Gains-Tax-After-Budget-2026-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"SGB Capital Gains Tax After Budget 2026\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18145839\/SGB-Capital-Gains-Tax-After-Budget-2026-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18145839\/SGB-Capital-Gains-Tax-After-Budget-2026-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18145839\/SGB-Capital-Gains-Tax-After-Budget-2026-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18145839\/SGB-Capital-Gains-Tax-After-Budget-2026-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18145839\/SGB-Capital-Gains-Tax-After-Budget-2026.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/sovereign-gold-bond\/sgb-capital-gains-tax-after-budget-2026-why-secondary-market-buyers-now-pay\/\">SGB Capital Gains Tax After Budget 2026: Why Secondary Market Buyers Now Pay<\/a><\/li>\n<\/ul>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Rupee_Movement\"><\/span><strong>The Rupee Movement<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Over July 2026, the rupee traded near 96 to one US dollar, close to its weakest level on record. It drifted lower through the month, touching about 96.9 on 23 July 2026 (Source: exchange-rate data, July 2026).<\/p>\n\n\n\n<p>A weak rupee and high oil form a loop. India buys most of its oil abroad and pays in dollars, so a weaker rupee makes each barrel cost more in rupee terms, which feeds inflation. Higher inflation and a wide import bill then weigh on the rupee again. That is why the rupee-dollar rate matters far beyond travel and imports.<\/p>\n\n\n\n<p>For a bond investor, the rupee is a warning light. A falling rupee can push foreign investors to sell Indian bonds, and it limits how freely the RBI can cut rates, since lower rates can weaken the currency further.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Crude_Oil_Price\"><\/span><strong>The Crude Oil Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The crude oil price India pays is the single thread running through all of this. Through July 2026, oil stayed high, trading in the high 80s to low 90s dollars a barrel, due to the conflict in West Asia and worries about supply through the Strait of Hormuz (Source: Canara Bank macro note, July 2026).<\/p>\n\n\n\n<p>India imports over 85% of its fuel, so the price it faces flows straight into the economy. It widens the import bill, weakens the rupee, and raises transport and factory costs that lift inflation weeks later. When the crude oil price rises, the other three numbers tend to follow.<\/p>\n\n\n\n<p>Oil eased a little toward the end of July 2026, which took some pressure off the rupee and bonds, but the level stayed high by the standards of a year earlier.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Bond_Market_Reaction\"><\/span><strong>The Bond Market Reaction<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Put the three together, and the bond market reaction follows. With retail inflation rising, the rupee weak and oil high, bond yields stayed firm rather than falling.<\/p>\n\n\n\n<p>Through July 2026, the 10-year <a href=\"https:\/\/goldenpi.com\/collections\/state-government-guranteed-bonds\">government bond yield<\/a> traded near 6.7% to 6.8%, holding firm even as retail (CPI) inflation rose. It did not fall far, because the same forces lifting inflation also argue against rate cuts. The RBI held its repo rate at 5.25% and stayed cautious, exactly what you would expect when retail inflation is climbing.<\/p>\n\n\n\n<p>So the chain is complete: oil up, rupee down, retail inflation up, RBI on hold, yields firm.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1786958753448\"><strong class=\"schema-faq-question\"><strong>Q1. What is the difference between CPI and WPI inflation in India?<\/strong><\/strong> <p class=\"schema-faq-answer\"> CPI, the consumer price index, measures retail inflation, the prices households actually pay, and it is the figure the RBI targets within a 2% to 6% band. WPI, the wholesale price index, tracks prices at the factory and wholesale stage, and it carries more fuel and raw materials, so it often moves faster and further than CPI. When people mention India&#8217;s inflation rate, they usually mean CPI.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1786958764808\"><strong class=\"schema-faq-question\"><strong>Q2. How does the price of crude oil affect inflation in India?<\/strong><\/strong> <p class=\"schema-faq-answer\"> India imports most of its fuel, so a higher crude oil price feeds straight into the economy. It raises transport and factory costs, which lift retail prices a few weeks later, and it widens the import bill, which can weaken the rupee and push inflation up further. This is why the crude oil price India pays is watched so closely.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1786958777785\"><strong class=\"schema-faq-question\"><strong>Q3. Why does a weak rupee push inflation higher?<\/strong><\/strong> <p class=\"schema-faq-answer\"> Because India pays for its imports, especially oil, in US dollars. When the rupee weakens, each dollar of imports costs more in rupee terms, so fuel and other imported goods get dearer at home. That feeds into retail inflation, which is one reason the rupee-dollar rate matters well beyond travel and shopping abroad.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1786958790001\"><strong class=\"schema-faq-question\"><strong>Q4. How does rising inflation affect the bond market?<\/strong><\/strong> <p class=\"schema-faq-answer\"> Rising inflation usually keeps bond yields firm or pushes them up. When inflation climbs, the RBI is less likely to cut interest rates, and it may even consider raising them, so bond prices soften and yields hold up. For a bond investor, a rising inflation rate is a signal that rate cuts, and the price gains that come with them, are less likely soon.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1786958802872\"><strong class=\"schema-faq-question\"><strong>Q5. What inflation rate does the RBI aim for?<\/strong><\/strong> <p class=\"schema-faq-answer\"> The RBI targets consumer price inflation (CPI) at 4%, within a band of 2% to 6%. As long as CPI stays inside that band, the RBI has room to weigh growth alongside prices. When CPI climbs toward the top of the band, the RBI tends to hold or tighten policy rather than cut rates.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1786958814263\"><strong class=\"schema-faq-question\"><strong>Q6. Where can I check the latest inflation figures for India?<\/strong><\/strong> <p class=\"schema-faq-answer\"> Official CPI and WPI figures are released each month by the government and covered by mainstream financial news. Because the numbers change every month, it is best to check the most recent official release rather than rely on an older figure and to note which month each reading covers.<\/p> <\/div> <\/div>\n\n\n<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">Ready to Invest?<\/div>\n<div class=\"gpi-custom-widget-content\">\n<p>Visit <a href=\"https:\/\/goldenpi.com\/\">GoldenPi<\/a> to explore current bond options. Compare yields, ratings, and tenures in one place and invest online with as little as \u20b930,000.<\/p>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disclaimer\"><\/span>Disclaimer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities and municipal debt securities\/securitized debt instruments are subject to credit risks, market risks, and default risks, including delay and\/or default in payment. Read all the offer-related documents carefully. This blog\/article should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products\/services of\/on GoldenPi or any product\/services of its third-party client(s). For a detailed calculation of YTM, visit our website.&nbsp;<a href=\"https:\/\/delivery.goldenpi.com\/XPRBSN?id=162365=ch0GCFVXBVBUH1QDUlZXUlgBVgNSUwJVWgQGDFJQAVsEUwRfBldSBFVUAglRBFJSAA0ZBgxfQFBbERxBFSNTV10FU1cTDBgFDg5OAFIKVVFQBlZTVwQBBgFSAg0aC0BMQRIMFkwBUwoIFVdDHBwCCw1QAAsTWBpSVwgebDYxdmt\/Xl9dHxMF&amp;fl=WRVCSRBfGUkETltfVwNLAxVbCQwNWhpYVkpFGwMOBRcEWQMNUEoHSQJaV1BQAQQHTAZXA1IcAAMOBBxWB1IMFQUEVQxXXAEFBVQEUkpTVlMCUFEHU1JVAwhUAFECAQZaVFEADVAAVQBXVFRUUw==\" target=\"_blank\" rel=\"noreferrer noopener\">T&amp;C\u2019s Apply<\/a>.<\/p>\n\n\n\n<script type=\"application\/ld+json\">\n[\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"NewsArticle\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/#article\",\n    \"isPartOf\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/macro-monthly-inflation-print-rupee-movement-crude-prices-and-the-bond-market-reaction\/\"\n    },\n    \"headline\": \"India Macro Monthly: Inflation, Rupee, Crude & Bond Market\",\n    \"description\": \"India's latest inflation, rupee, and crude oil moves are reshaping bond-market expectations. 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