RBI Bulletin Update: Common people do not see any possibility of getting relief from inflation in this quarter. During the current quarter between July and September, the inflation rate may remain above 6 percent on an average. RBI has said these things in its monthly bulletin.
According to the bulletin issued by RBI, the problems that have arisen in the supply are not going to end at the moment. The jump in the prices of vegetables is also being seen during the first 15 days of August. In such a situation, the inflation rate can remain above 6 percent in the second quarter of the current financial year. This has been written in the regular State of Economy article in the RBI Bulletin, whose co-authors also include RBI Deputy Governor Michael Patra. However, the views expressed by the author in the RBI Bulletin are not considered to be the stand of the RBI.
On August 10, 2023, the RBI in its MPC meeting increased the inflation forecast for the current financial year from 5.1 percent to 5.4 percent. But according to statistics of the Ministry of Statistics on August 14, the retail inflation rate has reached 7.44 percent. So the food inflation rate has been 11.51 percent. The reason for the rise in food inflation is the fire in the prices of greens and vegetables including tomatoes. So during this period the prices of wheat, rice and pulses have also seen a rise.
RBI bulletin has also warned of the danger of El Nino in the second half of this year. Due to which the fear of inflation in Rabi season has been expressed. At the same time, the bulletin has also warned about the danger of increase in prices due to reduction in the supply of crude oil. In fact, Saudi Arabia has announced a cut in the production of crude oil. Due to which there has been a jump in the prices of crude oil in recent times.
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