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.
OnePlus 9 5G became cheaper, smartphone price cut by Rs 7000, now buy at this price
OnePlus 9 5G Features: The premium smartphone OnePlus 9 5G, which came last year from handset mak
The magic of English is breaking in front of regional languages in the country and the world. In
House prices in eight major cities of the country have increased by 11 percent during the January
Delhi Today Weather News While January bid farewell and February started with rain in Delhi-NCR,
N. Chandrasekaran’s decision not to seek another term as Tata Sons chairman could lead to a
The National Green Tribunal (NGT) has asked the Uttar Pradesh government to act expeditiously in
There is as much talk of Britain's new Prime Minister Rishi Sunak as in Britain. More than that i
A video of a wrong song being played instead of the national anthem at an event of Rahul Gandhi's
Before Diwali, the Modi government gave a 4 percent increase in dearness allowance to central emp
Contempt proceedings against former judges for criticizing the observations made by the Supreme C
