Mukesh Ambani: Crisis in Iraq will lead to spike in inflation

Mukesh Ambani, chairman of Reliance IndustriesBSE -0.13 % which operates the world's largest single-location oil refinery at Jamnagar, today said the crisis in Iraq will lead to higher fuel prices which in turn will raise inflation. "In an inter-connected world like the one we are living in today, what's happening around the world affects everywhere. "The geopolitical crisis in the Middle East, especially the ongoing one in Iraq will increase crude oil prices which in turn turn will spike inflation in our economy," Ambani said at the 106th annual general meeting of Indian Merchants Chamber here today.



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