Inflation sharpens amid Russia-Ukraine war, world in crisis
The World Bank has said that the war between Russia and Ukraine, which supplies a large share of essential commodities, has put all countries in the world, including India, at a risk of inflation. Inflation is high for commodities like edible oil, petroleum, natural gas, wheat, cotton, fertilizers and minerals. The production and supply chain was disrupted due to the war. The world will fall into a 50-year recession. Crude oil prices will rise until 2024. This year it will be more than $ 100 a barrel. This will make inflation uncontrollable.
May 27, 2022