New Delhi, May 14 -- The ongoing global tariff wars and the continued rise in gold prices will significantly impact the overall consumer price index (CPI) in the upcoming months, even if food prices remain stable, according to a report by the Union Bank of India (UBI).

The report added that higher CPI, which is a measure of inflation, could occur even if food prices remain stable, as the cost of non-food essentials, particularly precious metals, plays an increasingly significant role in driving overall inflation.

As per the inflation data released by the Ministry of Statistics and Programme Implementation on Tuesday, retail inflation in India in April fell to 3.16 per cent from 3.34 per cent in March.

The April CPI slips to six-year lo...