Rising prices are not pure indicator of crisis
This situation of crisis can be debated in the context of inflated prices of food products and mainly that of staple food. Prices are likely to rise if the supply is not able to meet the demand.
In India, the rate at which the consumer preferences are changing is much less than the rate of slowdown in the production of cereals along with diversification of land towards high value agriculture. This effect is likely to create pressure on supply, but as of now, the rising fuel prices have primarily led to the spurt in food prices.