The Russia-Ukraine war has a major role in the rising inflation in the country, SBI economists claimed on Monday. He said that 59 percent of the geopolitical tensions caused by the ongoing war between Russia and Ukraine contributed to the rise in inflation. SBI economists said that in the period of rising inflation, the inflation figure reached the level of 7.8 percent in April. He said that the RBI is once again ready to increase the repo rate to 5.15 percent before the epidemic.
Taking February as the basis, the effect of the Russo-Ukraine war on inflation has been studied. It has been found in this research that due to the ongoing war between these two countries, inflation in food, fuel, light, and transport has increased by 52 percent. Apart from this, due to the increase in input cost in the FMCG sector, the prices of commodities have increased by up to seven percent.
According to SBI Ecowrap, economists say that there is no hope of getting relief from rising inflation at the moment. At the same time, he says that there is a difference in the rising prices in urban and rural areas. The reason behind the increase in inflation in urban areas is an increase in the price of petroleum, whereas, in rural areas, the most effective has been seen due to an increase in food prices.
According to a report by SBI, by August, the central bank will increase the repo rate by 75 bps or 0.75 percent. The second meeting of this financial year will be held in June and the third meeting in August. The report said that the RBI will increase the repo rate to 5.25 percent. It is currently at 4.5 percent. After August, the matter of increasing the rates may slow down a bit.
Along with this, economists have also asked RBI to look into the steps being taken by it. SBI economists have also asked SBI to look into whether these steps can bring down inflation in a meaningful way if the war-related standoff between Russia and Ukraine is not resolved soon.
Good Friday 2023: 'Good Friday', one of the main festivals of Christianity, will be celebrated th
High-voltage drama continues ahead of the T20 World Cup 2026. After the Bangladesh Cricket Board,
Avatar 2 Box Office Collection: 'Avatar 2' earns worldwide, collection figure crosses 1 billion
Hollywood veteran director James Cameron's 'Avatar the Way of Water' is not taking the name of st
Strict action has been taken in the case of pepper spray being used against police personnel duri
Punjabi actor-singer Diljit Dosanjh is facing criticism over his upcoming Punjabi film 'Sardar Ji
Opposition MPs included in the Joint Parliamentary Committee (JPC) formed to discuss the Waqf Ame
Russia-Ukraine War: European Union again imposed new sanctions on Russia, blacklisted 200 people
The ongoing Russia-Ukraine war is not taking the name of ending. Meanwhile, the European Union (E
IND vs BAN: Will Taskin Ahmed play in the second ODI against India? Bangladesh coach replied
Taskin Ahmed was not part of the Bangladesh team in the first ODI against India. Taskin Ahmed cou
After the new allegations of irregularities in the medical admission exam NEET-UG and the harsh c
Corona cases have increased for the second consecutive day in the country. The Health Ministry sa
