Inflation In India: Moody’s said, expensive food items and expensive petrol diesel CNG contribute more than half to the increase in inflation rate!

Inflation in India: The cost of food, fuel, CNG, and cooking gas has been bothering the general public for the past year. This has been verified by the rating agency Moody’s Investors Service. The rating agency has said that food and fuel have been the biggest contributors to the rise in inflation in India. Food and fuel make up the largest portion of the consumption basket, according to Moody’s. His biggest contribution in this situation has been to more than double inflation.

According to Moody, skyrocketing food prices in India and Mexico have contributed to more than half of the rise in inflation. Moody’s Investors Service has released a report regarding the outlook for 2023, in which it has said that the central banks of countries with emerging economies like India maintain significant foreign exchange reserves in order to shield the home currency from currency fluctuations. Can save Market. are doing. According to the report, central banks of other emerging economies, including India, Thailand, and Indonesia, have been continuously intervening to prevent the domestic currency from falling too much.

Moody’s Investors Service has said in its report that the write-off and recovery of non-performing loans will improve the asset quality of Indian banks. The report states that wind and solar power in India and China are the least expensive energy resources.

Let us inform you that the October retail inflation data show a decrease in the inflation rate from the 7.41 percent recorded in September. to 6.77 percent due to the fall in the prices of food items. The rate of retail inflation hit 7.79 percent in April. Since that time, the rate of retail inflation has consistently been high. Due to this, RBI has increased the repo rate by 1.90 percent while tightening the policy rates, due to which the loan has become costlier.

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