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Author(s):

Santhiya S | Dr. M. D. Chinnu, Assistant Professor
Keywords:

Crude Oil, Inflationary Trends, Cost Of Living, Consumer Expenditure, Economic Resilience, Price Volatility, Government Policy.
Abstract:
Fluctuations In Global Oil Prices Have Emerged As A Key Factor Influencing Inflation Trends Across The World, With India Being Particularly Vulnerable Due To Its Heavy Reliance On Crude Oil Imports. As Oil Prices Surge, The Indian Economy Faces Mounting Pressure From Increased Transportation And Production Expenses. These Rising Costs Contribute To An Overall Escalation In The Prices Of Goods And Services, Diminishing Consumer Purchasing Power. This Paper Investigates The Inflationary Effects Of Oil Price Hikes In India, Emphasizing Their Influence On Everyday Living Expenses And Consumption Habits. The Research Also Reviews How Reduced Disposable Income Affects Spending Patterns And Evaluates The Government’s Interventions Aimed At Countering These Economic Pressures. Findings Suggest A Notable Inverse Relationship Between Rising Oil Prices And Consumer Spending, Indicating A Significant Strain On Domestic Demand. The Study Highlights The Necessity For Strategic Policy Initiatives To Shield Consumers And Maintain Economic Equilibrium Amid Ongoing Global Oil Price Volatility.

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