The investigation by the Reserve Bank of India shows that basic inflation is not facing a direct threat.

Economists at Pantheon Macroeconomics wrote in a report that the latest survey from the Reserve Bank of India shows that the war-driven surge in global oil prices will not have a direct impact on underlying inflationary pressures. They added that in the survey conducted from February 25 to March 10, household inflation expectations showed a small increase as expected, but the increase is not enough to significantly change the downward trend that has been ongoing for several years. They noted that businesses also seem to be absorbing some cost pressures, as the net proportion of companies expecting profit margins to rise continues to decline. They wrote: "The price trend of oil increasingly indicates that the worst period of this shock is behind us."