India’s inflation rate has broken records to remain at its high level. In the same month, the Reserve Bank of India has also increased the repo rates to control it. And now in its monthly review it has been described as ‘stubborn’.
In India, inflation is stable due to increase in revenge rebound shopping.
The inflation rate in India has remained at a high level for a long time. Adopting all methods of control, repo rate (Repo Rate) When inflation has not come under control even after steps like increasing the rate of increase and the EMI of people’s loan has become expensive, now the Reserve Bank of India (RBI) too stubborn it (Stubborn) Started believing. The central bank in its monthly report on Tuesday (RBI Monthly Bulletin)Detailed information has been given regarding this.
In its report, RBI expressed the possibility of inflation coming down, but also said that it is not over yet.
Inflation will decrease first next year, then it will increase
The report of the Reserve Bank of India states that India’s headline inflation rate (Headline Inflation) next financial year (FY 2023-24) It is estimated to increase in the second quarter i.e. July-September, while it can register a softening in the first three months i.e. between April and June.
In November, the country’s core inflation rate was 5.88 percent. This is above the Reserve Bank’s target of 4 percent, while very close to the highest target of inflation i.e. 6 percent.
Inflation rate can remain this much next year
According to RBI estimates, the inflation rate in January-March next year could be 5.9 percent. Whereas in April-June it will come down to the level of 5 percent. At the same time, it can again increase to 5.4 percent in the next quarter.
International is the reason for rising inflation
PTI has reported on the basis of an article by RBI that the current financial year (FY 2022-23) Inflationary pressure in the beginning was due to problems related to the supply chain. But as their influence waned, people spent lavishly. (Revenge Rebound) Started doing, due to which inflation is now constant.
In this article of RBI, since February 2022, the trend of inflation in the country has been assessed. Accordingly, supply-side shocks due to the Russia-Ukraine war pushed up retail inflation. (Retail Inflation) was raised above its satisfactory level of 6 per cent. However, the consumer price index (CPI) This inflation has come down to 5.9 percent in November. Inflation has come down mainly due to cheap vegetables.
A team led by RBI Deputy Governor Michael Debabrata Patra has prepared this article. It has been said that inflation has remained constant due to loud purchases. Shopping based on ‘revenge rebound’ means that after the restrictions imposed during the pandemic were lifted, people have bought a lot to take a kind of revenge. This article is part of the bulletin issued by the Reserve Bank on Tuesday.
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