The Russo-Ukraine war has dealt a severe blow to the economies of the world. India is also no exception to this. In India, inflation is increasing from farm to kitchen due to fertilizer to crude oil.
It has been almost a month and a half since the Russo-Ukraine war. This has dealt a severe blow to the economies of the world. India is also no exception to this. War-disrupted supply chains and costly crude oil have now started affecting everyone. In the last two months, the effect of inflation on agriculture and food items has started showing.
Expensive fertilizer will increase subsidy expenditure
Russia, Ukraine and Belarus are major producers of fertilizers, but the war has affected their supply. Due to this the price of fertilizers has increased.
10 percent of fertilizers in India come from Russia and Ukraine
India's subsidy expenditure may reach Rs 2 lakh crore
The price of DAP increased by 20 percent in the country this year
Fertilizers prices increased by 40 to 60 percent in 2021
Expensive edible oil increased the cost of cooking
Russia and Ukraine are major suppliers of edible oils. They are not being supplied because of the war. As a result, the prices of all edible oils are increasing. However, mustard oil is giving relief.
90% of sunflower oil imported from Russia-Ukraine
Sunflower oil price increased by 23 percent in two months
Vegetable-soybean oil became expensive by 11 percent in this period
Palm oil became more expensive by 17 percent after the war
Crude oil costing every class
Crude oil is running high due to war. Now it is increasing the price of petrol and diesel domestically. This has increased the burden on the pockets of every class including freight.
Petrol and diesel costlier by more than Rs 10 in 18 days
Petrol reached beyond Rs 100 in most cities of the country
Aircraft fuel price hiked by 50% in 2022 so far
Freight likely to increase by 30 percent
Auto-realty sector troubled by expensive raw materials
Inflation created by the war has increased the cost of raw materials ranging from house building to vehicle manufacturing. Automobile companies are preparing to increase the price.
Maruti Suzuki preparing to hike prices for the 5th time
79 percent share in the price of the raw material vehicle
Steel price increased by 20 percent in 2022 so far
Cement became costlier by 10% on monthly basis in March
