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.
Allu Arjun's children Ayaan and Arha were spotted being taken to a safe place hours after the att
The Delhi High Court has ordered strict adherence to the Kovid protocol in airports and flights.
Tripti Dimri, who made people crazy with the movie 'Animal', is touching new heights. People can'
The Indian team will start its World Cup campaign on Wednesday. India will face Ireland at the Na
Now only two to three days are left for the Reserve Bank of India's rules related to card tokeniz
Amid the ongoing controversy over the derogatory comments made by Maldivian ministers on Prime Mi
Afghanistan has made it to the semi-finals by defeating Bangladesh. With this, the Australian tea
Sonu Sood: Sonu Sood met Andhra Pradesh Chief Minister Chandrababu Naidu, donated an ambulance
Recently, Bollywood actor Sonu Sood met Andhra Pradesh Chief Minister Chandrababu Naidu and donat
Voting for the post of Vice President is to be held today. Jagdeep Dhankhar from NDA and Margaret
A Mumbai court on Monday granted bail to Sapna Gill and three other accused in the case of allege