Inflation is projected at 7.5 per cent between July-September, 7.5 per cent between October-December and 7.5 per cent between January and March 203.
New Delhi, Dt
The country is enjoying inflation right now. “Steel, edible oil and petrol and diesel prices have eased due to some measures taken by the central government but inflation is unlikely to come down as per the RBI’s expectations by December,” Reserve Bank Governor Shaktikanta Das told a newspaper. Meanwhile, Reserve Bank Deputy Governor Michael Patra said in a separate interview that the ongoing war tax in Europe would have an impact on the economy and economic growth could slow. We are on track to reduce inflation and expected inflation. Until December, the consumer price index will remain around the peak of our expectations. After this it will go below six per cent, Governor Das said.
At the time of lending policy review in the first week of the month, the RBI had pegged consumer price inflation at an average of 7.5 per cent in FY05-7 due to domestic and foreign factors. The estimate was 4.5 per cent in February, which rose to 6.5 per cent in April and is now 4.5 per cent. “Inflation is projected to be 7.5 per cent between April-June, 7.5 per cent between July-September, 4.5 per cent between October-December and 7.5 per cent between January and March 203,” the RBI governor said in a statement announcing the hike. . Simply put, inflation will continue till December – even if the price of crude oil averages ૫ 105 per barrel, if the monsoon rains are good – will upset the people of the country. Despite a partial decline in consumer prices in May after hitting an eight-year high of 7.5 per cent in April, it has remained above the Reserve Bank’s target of 2 per cent to 6 per cent for the fifth consecutive month. The war in Russia and Ukraine has put global growth at risk as the economy is booming again after the Corona epidemic, Deputy Governor Michael Patra said. Although the war between Russia and Ukraine has no direct connection, it is having the biggest impact on emerging economies. Every bank in the world decides on interest and lending to its own country but inflation is the biggest issue right now and every country’s interest rate hike shows that the problem is the same, Patra told a meeting of the PhD Chamber of Commerce.
