South Korea's consumer prices surged 3.1% in May year-on-year, the fastest growth in 26 months. This rise is attributed to global energy price volatility due to the Middle East war, with petroleum product prices soaring 24.2%.
Chief Economic Adviser V Anantha Nageswaran has warned that energy market volatility amid West Asia disruptions is disproportionately impacting small farmers, micro-entrepreneurs and daily wage workers. Highlighting India's dependence on imported fossil fuels despite 1.4 billion population and energy demand three times the global average, he called for productivity gains through Digital Public Infrastructure. NITI Aayog's DPI@2047 roadmap proposes a two-phase strategy (DPI 2.0: 2025-35, DPI 3.0: 2035-47) to transform MSMEs, agriculture, education and health sectors.
