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.
Milind Bharambe, Police Commissioner of Navi Mumbai in Maharashtra, said an investigating officer
Former Congress leader Acharya Pramod Krishnam has termed the victory of BJP in the Haryana assem
BJP leader Subramanian Swamy has filed a petition in the Supreme Court seeking to declare the his
The government said on Wednesday that telecom service providers have started providing 5G service
Salman Khan has long been a supporter of Preity Zinta’s IPL team. Recently, he posted a twe
NASA's third attempt to launch the Moon mission: Rocket will fly on November 16 at 11.34 am
After about a month and a half, the US space agency NASA is preparing to launch its Moon mission
Twitter has launched its updated account verification program. Now all verified accounts will not
The Employees’ Provident Fund Organisation (EPFO) has introduced a major update for EPF acc
Prime Minister Modi, citing his visit to South India during the fast observed before the consecra
Rajnath Singh: Rajnath Singh said - Ammunition is proof of the country's economic strength
The opposition in the country is besieging the government on economic issues. Meanwhile, Defense
