With the US-Iran conflict keeping global crude oil prices elevated and the Strait of Hormuz disruption pushing up metal costs, the economic research wing of Bank of Baroda sees further upside pressure on headline WPI in the coming months. If a peace deal is not reached soon, prolonged tensions could keep fuel inflation high, while a depreciating rupee may add to import costs. Food inflation, which is still providing a cushion, may also inch up depending on the progress of the monsoon.