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.
PM Modi: PM Modi will attend the Arun Jaitley Memorial Lecture, and will address the people
Prime Minister Narendra Modi will attend the first Arun Jaitley Memorial Lecture organized in mem
One Nation One Election: The Central Government constituted a committee for 'One Nation, One Elec
Braj's Holi: Long queues of vehicles from Barsana to Nandgaon... roads jammed; broken traffic system
Lakhs of devotees are reaching Mathura due to Rangotsav in Barsana-Nandgaon. Due to this, the tra
Another hottest couple of Bollywood has now joined the parenting club. Siddharth Malhotra and Kia
Delhi Chief Minister Arvind Kejriwal held a press conference on Tuesday. He said that the fi
NEET UG Paper Leak: Supreme Court issues notice to NTA in NEET case, says it will have to respond
Students are very angry about the rigging of the NEET 2024 result. Now the matter of irregulariti
On Monday, the Supreme Court once again reprimanded Madhya Pradesh government minister Vijay Shah
The sky is cloudy in the Delhi-NCR region. According to the Indian Meteorological Department (IMD
The government may cut its expenditure for the first time in three years in the current financial
Filmmaker Boney Kapoor himself was embroiled in legal trouble as a vendor accused him of not payi
