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.
Sonu Sood, who was praised for his noble deeds during Covid-19, is now facing criticism due to th
There were already concerns about attacks against the Jewish community in Australia. Following Is
Monsoon has entered the country. According to the Meteorological Department, monsoon has entered
Oil companies have released the prices of petrol and diesel for today. Today companies have not m
The fourth Test of the Ashes series between Australia and England will be played in Manchester. A
Because of the increasing cases of coronavirus worldwide, now the central government has also inc
Preparations are on in full swing to electrify Dungurshahi in the Mayurbhanj district, the native
Gold medal in 10-meter Air Pistol Men Team event: On the fifth day of the Asian Games, shooters o
Prime Minister Narendra Modi addressed the people at Modi Maidan in Udhampur today. Prime Ministe
There is news of relief on the inflation front. Retail inflation is expected to remain at 6.65 pe
