Mumbai, May 29 -- The global economy in April was clouded by tensions in West Asia, which disrupted energy supplies and trade routes, pushing up costs and creating volatility in financial markets. Commodity prices rose broadly, especially in energy, metals, fertilizers, and food. Equity markets bounced back with tech stocks, but bond yields hardened as inflation concerns grew. Central banks mostly kept interest rates unchanged.

In India, economic activity stayed strong despite global pressures, said the RBI monthly bulletin. Industry and services maintained momentum, while agriculture benefited from good rainfall and healthy reservoir levels. Food inflation pushed CPI inflation up to 3.5% in April, though core inflation stayed steady. Tr...