In a significant observation, the Reserve Bank of India (RBI) has observed that the changing weather conditions may pose risk to inflation. The central bank pointed out the World Meteorological Organization report on global warming.
The weather monitoring outfit, issued red alert saying that the 2024 may turn as a hottest year, even cross the 2023 threshold. It projected the data collected from the India Meteorological Department and made the forecast for the year.
However, the agency felt that there may be chances of La Nina, resulting in heavy rain fall in Indi, as predicted by the Australia’s Bureau of Meteorology. The rains may start after June.
The apex bank felt these weather conditions may result in risk of inflation this year, although, the indicator is showing lows in the month of March at 4.9% after averaging 5.1% in the p receding two months.
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