Business Standard

Many Indians tighten belts as Ukraine war drives up prices of necessities

Higher prices from European conflict put economic recovery at risk; companies up prices to pass on higher costs of fuel, materials


India's economy expanded at a pace slower than expected in the quarter from October to December. (File photo)

Many Indians are cutting down on fried food and even vegetables as the Ukraine war inflates the prices of items from edible oils to fuel, threatening a sputtering recovery in the consumption-based economy after two years battling COVID-19.

Consumers in Asia's third-largest economy are feeling the bite as companies pass on a surge in costs since the invasion, battling the first hikes in five months this week in the prices of diesel and petrol, as well as more expensive vegetable oils.

"God only knows how we will manage this level of price rise," said Indrani Majumder, the sole earner in a family

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First Published: Mar 23 2022 | 2:33 PM IST

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