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.
In a thrilling match of IPL 2025, Delhi Capitals won a dramatic one-wicket victory over Lucknow S
Yogi government is going to make a family card for accurate assessment of the social and economic
The beginning of the new era that Prime Minister Narendra Modi had announced at the consecration
The celebration of Royal Challengers Bangalore's victory in IPL faded when 11 people lost their l
In the 34th match of the IPL, there was a clash between Sunrisers Hyderabad and Delhi Capitals. T
From today, only vehicles complying with BS-6 emission standards are allowed entry into Delhi. Am
Tecno Camon 19: Tecno's camera-centric smartphone with great offers to be launched in India soon
Tecno Camon 19 Launch: Tecno has announced the launch of its upcoming smartphone Tecno Camon 19 i
The selection committee headed by Prime Minister Narendra Modi will meet on Thursday afternoon to
Profit-taking led to a sharp decline in gold and silver prices in the international market. Silve
Moderate tremors of earthquake were felt in southern Iran on Wednesday. The European-Mediterranea
