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.
Assam Flood: People's lives have been disrupted due to floods after rain in Assam. Giving informa
The consecration of Ram Lalla in the grand temple in Ayodhya on January 22 is going to be a very
The Tis Hazari court on Friday sent Chief Minister's aide Bibhav Kumar to 14-day judicial custody
More than four years after it was passed by Parliament, the rules related to the Citizenship Amen
Sonia Gandhi is in Rae Bareli. Today she will address the rally to be held ne
Around 12:45 AM on January 31st, indiscriminate firing took place at the Juhu residence of Bollyw
The BJP has called a meeting of its leaders on the issue of the inclusion of non-local voters in
Next month, the world-famous Khatu Shyamji Phalguni fair will be held. More than 50 lakh devotees
Who is Hamas Commander Ibrahim Biyari: Israel killed and killed Jews since 2004
The war between Israel and Hamas has been going on for more than three weeks. So far, more than n
Air Pollution: SMOG as far as you can see in Delhi-NCR, know its dangers and ways to avoid it
Crores of people in Delhi-NCR are in the grip of severe air pollution. The sky has been covered w
