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.
The Enforcement Directorate is tightening its grip on the alleged liquor scam in Delhi. It is rep
Gujarat Election 2022: Hardik Patel's target on Congress, asked why so much hatred for Hindus?
Politician and social worker Hardik Patel, who gave a big blow to the Congress ahead of the upcom
In IPL 2023, the match is to be played between Mumbai Indians and Royal Challengers Bangalore on
The first day of the new year saw a severe cold wave in North India. Meanwhile, Mumbai, the capit
Indian batting maestro Virat Kohli has once again demonstrated his dominance in ODI cricket. Indi
Fast bowler James Anderson has created history in the second Test match of the three-match series
The first International Film Festival of Delhi (IFFD) is set to be held in the capital Delhi soon
There were three earthquakes in Rajasthan's Jaipur city on Friday morning. According to the Natio
PM Modi: PM Modi added MIGA to Trump's 'Make America Great Again' slogan, know what it means
Prime Minister Narendra Modi said in a joint press conference at the White House on Thursday that
The Supreme Court resumed hearing the stray dog issue on Thursday. The Supreme Court focuse
