Analysing the impact of commodity price changes on consumers: Automotive industry as reference

Abstract

The Inflation figures over the last few quarters have shown signs of concerns for the Indian economy. The numbers printed more than 6% for each of the last 7 months in the year 2022. Inflation postpandemic has been a global phenomenon, but it is concerning in the Indian context that it has seen the highest numbers among the larger Asia Pacific economies. The impact of Inflation has been consistently observed in the wholesale prices, but up recently, it has cascaded its effect by translating into higher retail prices as well. The increase in retail Inflation has been sending alarming signals to the economy. With sustained Inflation, the consumption pattern is expected to change drastically.