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Inflation & Rising heat UPSC NOTE

 

  • Extreme weather events could pose a risk to inflation

  • The RBI officials flagged the World Meteorological Organisation’s red alert about global warming in its latest “State of the Global Climate 2023”, mentioning a high probability that 2024 would breach the 2023 threshold as the hottest year on record as the world moves toward a freshwater shortage crisis. 

  • They cited the WMO as saying, “data from the India Meteorological Department reflects a worrying escalation in extreme weather events necessitating an urgent and collective response

  • According to Australia’s Bureau of Meteorology and the U.S. National Oceanic and Atmosphere Administration, the chances of La Nina, which result in heavy rainfall in India – emerging after June have risen even as El Nino is dissipating

  • The softening of core (CPI excluding food and fuel) inflation to historic lows in March, driven by moderation across goods and services components, gives credence to the conduct of disinflationary monetary policy

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Inflation & Rising heat UPSC NOTE
Inflation & Rising heat UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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