India "stands like an oasis" in a time of economic unpredictability, according to a SBI Research report

India continues to "stand like an oasis" despite the fact that inflation has negatively impacted the cost of living in the majority of the world, according to SBI Research's Ecowrap report, which was published on December 2.

The word "good" may have temporarily disappeared from the global economy, according to the report by Group Chief Economic Advisor of SBI Group, Soumya Kanti Ghosh, and the current state of unpredictability has "cast an enormous spell of hardships across countries."

However, it went on to say, "The good news is that India still stands like an oasis in this age of uncertainty."

SBI Research used the rupee as a common denominator when comparing the cost of living in India with that in the US, the UK, and Germany. "We found that in rupee terms, if the household budget/cost of living across all countries was Rs 100 in September 2021, it has now increased by Rs 12 in both the US and India, but it has increased by Rs 20 in Germany and Rs 23 in the UK," it said.

India "performs the best," according to the survey, in terms of food pricing. It was noted that prices had increased from Rs 100 in September 2021 across the four nations by Rs 25 in the US, Rs 18 in the UK, Rs 33 in Germany, and Rs 15 in India.

According to the report, housing costs increased by Rs 21 in the US, Rs 30 in the UK, Rs 21 in Germany, and only Rs 6 in India during the same time period.

According to the survey, energy prices increased by Rs 16 in India and Rs 12 in the US over that time, while they also increased dramatically by Rs 93 and Rs 62 in the UK and Germany, respectively.

India still performs significantly better than nations thought to be the model for sound macromanagement, it added. "Clearly, the cost of living has worsened in the wake of global mayhem," it said.