Agency, Bangalore.

: Dev Kashyap
Updated Tue, 12 Apr 2022 0351 AM IST

The survey said that due to the Russo-Ukraine war, the price of crude oil and commodity prices has increased rapidly. This will also have an impact on the retail inflation data. However, the full impact of the increase in global crude oil and energy prices due to the attack on Ukraine is not expected to be visible till April as petrol and diesel prices have been delayed in India.

Due to skyrocketing prices of food items, retail inflation in the country is likely to remain 6.35 per cent in March. This will be its 16-month high since November 2020. This will be the third month in a row that retail inflation will move out of the RBI’s cap of 6 per cent. The government may release inflation data on Tuesday. During this period, retail inflation is expected to be in the range of 6.06 per cent to 6.50 per cent, as against 6.07 per cent in February.

The survey said that due to the Russo-Ukraine war, the price of crude oil and commodity prices has increased rapidly. This will also have an impact on the retail inflation data. However, the full impact of the increase in global crude oil and energy prices due to the attack on Ukraine is not expected to be visible till April as petrol and diesel prices have been delayed in India. This means that there is no hope of relief from inflation in the coming months. The survey is based on conversations with 48 economists, which took place between April 4-8.

Palm oil has become costlier by 50 percent
Economist Dheeraj Nim at ANZ says food prices continue to rise after three months of decline till February. Supplies have been affected due to the Russo-Ukraine War. Food grain production, edible oil supply and fertilizer exports have been disrupted. The impact of this can be seen on the prices of food items which account for about half of the inflation. Therefore, the rate of retail inflation is expected to increase to 6.30 percent in March.

Citi India Chief Economist Samiran Chakraborty said the rise in the prices of edible oil along with the commodity globally would push up the inflation figures in March. The price of palm oil, the world’s most widely used oil, has risen nearly 50 per cent this year. Apart from this, petrol has become costlier by Rs 6.50 per liter in the last 10 days of March after the assembly elections.

Bond yields at three-year high
Government bond yields with 10-year maturity touched 7.16 per cent on Monday. It had touched 7.19 per cent at one point in day trading, its three-year high since May 27, 2019. RBI has raised the annual inflation forecast in the recent Monetary Policy Committee meeting. This dampened investor sentiment. US bond yields also rose sharply. Bond yield is a major indicator of the state of the economy.

Due to skyrocketing prices of food items, retail inflation in the country is likely to remain 6.35 per cent in March. This will be its 16-month high since November 2020. This will be the third month in a row that retail inflation will move out of the RBI’s cap of 6 per cent. The government may release inflation data on Tuesday. During this period, retail inflation is expected to be in the range of 6.06 per cent to 6.50 per cent, as against 6.07 per cent in February.

The survey said that due to the Russo-Ukraine war, the price of crude oil and commodity prices has increased rapidly. This will also have an impact on the retail inflation data. However, the full impact of the increase in global crude oil and energy prices due to the attack on Ukraine is not expected to be visible till April as petrol and diesel prices have been delayed in India. This means that there is no hope of relief from inflation in the coming months. The survey is based on conversations with 48 economists, which took place between April 4-8.

Palm oil has become costlier by 50 percent

Economist Dheeraj Nim at ANZ says food prices continue to rise after three months of decline till February. Supplies have been affected due to the Russo-Ukraine War. Food grain production, edible oil supply and fertilizer exports have been disrupted. The impact of this can be seen on the prices of food items which account for about half of the inflation. Therefore, the rate of retail inflation is expected to increase to 6.30 percent in March.

Citi India Chief Economist Samiran Chakraborty said the rise in the prices of edible oil along with the commodity globally would push up the inflation figures in March. The price of palm oil, the world’s most widely used oil, has risen nearly 50 per cent this year. Apart from this, petrol has become costlier by Rs 6.50 per liter in the last 10 days of March after the assembly elections.

Bond yields at three-year high

Government bond yields with 10-year maturity touched 7.16 per cent on Monday. It had touched 7.19 per cent at one point in day trading, its three-year high since May 27, 2019. RBI has raised the annual inflation forecast in the recent Monetary Policy Committee meeting. This dampened investor sentiment. US bond yields also rose sharply. Bond yield is a major indicator of the state of the economy.

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