The RBI might have to hike rates sooner than expected; and it’s not just about rising fuel prices. Think broader: food, core inflation, imported pressures from a stronger US dollar, and even hidden costs from past government subsidies now bubbling up. Experts like Abhishek Upadhyay (ICICI Securities) and Dhiraj Nim (ANZ) warn that inflation could stick around 6% for the next three quarters; far longer than the RBI anticipates. What’s scarier? Nearly 70% of CPI items saw higher inflation in August than July; a red flag that price pressures are spreading, not easing. And here’s the twist: The RBI already soaked up ₹2.5 trillion via reverse repos, but with ₹4-5 trillion still needing to be drained, a CRR hike (likely 50 bps) on October 7 seems almost inevitable; despite the governor’s earlier hint that FCNR deposits were exempt. So why does this matter to you? Because if rates go up, your EMI could go up. Loans get costlier. Savings might earn more. Markets may wobble. The quiet monetary tightening already underway? It’s about to get louder. The biggest risk isn’t just inflation; it’s how long it lasts.