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.
A case of infection with the new sub-variant JN-1 of Corona has come to light in the capital Delh
A horrific road accident took place in Maharashtra on Friday morning. According to the informatio
There is silence at the house of Anurag Yadav, the lover of his wife Pragati, who was involved in
The statement of Balkaur Singh, father of Punjabi singer Sidhu Musewala, has re-highlighted a 201
Russia's economy is in constant hiccups due to the Ukraine war. The experts of Russia believe tha
There is good news for consumers before the festivals. Finance Minister Nirmala Sitharaman has cl
RuPay in Europe: Worldline and NPCI join hands to expand UPI and RuPay services, know the plan
Global payment service provider Worldline has joined hands with NPCI International Payments to ex
In the Thyagaraj Stadium in the capital of Delhi, the IAS couple has been overwhelmed by sending
Cryptocurrency: Crypto Market Greening, Bitcoin Up 5%, Ethereum Nine Percent
The cryptocurrency market is seeing greenery on Monday. All major cryptocurrencies are trading st
Baba's aarti has become expensive in Kashi Vishwanath temple in Varanasi. Devotees will have to p
