Most of you may not know why inflation actually increases and why it has soared, especially in the last three years.
Today, we will tell you why inflation is increasing so much in our country? At the same time, we will also tell that in the big countries of the world, inflation is increasing even more than India. There is only politics on inflation in our country now.
Most of you may not know why inflation actually increases and especially in the last three years, inflation has increased tremendously not only in India but also in the whole world. So, what is the reason that even the governments of countries like America, Britain and Germany have failed in the face of this inflation?
But first of all, you see, when inflation increases, how big an explosion happens in the stock market. Almost all of the world's largest stock markets have recorded a historic decline. Inflation has shaken the stock markets around the world.
Recently, new data on retail inflation rate in India was released. In the last month i.e., April 2022, the retail inflation rate was recorded at 7.79 percent. The rise in retail inflation simply means that when you go to buy a product, it gets more expensive than before. This increase in retail inflation is the highest since July 2014. In May 2014, it was 8.33 per cent. In simple words, this is the most expensive period of the last eight years in India.
The retail inflation rate in India is estimated on the basis of the price of about 450 goods and services. 45 percent of these are food and drinking items such as cereals, milk, vegetables, sweets, oils, chicken, mutton, fish and eggs. Apart from this, services like health, education, traffic and house building are also included in it. Between February and April, prices of vegetables rose by more than 23 percent. Apart from this, there has also been a steep increase in the prices of flour after January 2010. The prices of petrol and diesel have also affected the common people of India. CNG prices have also increased by 69 percent. Similarly, the prices of LPG cylinders have also gone up by about 23 percent.
Overall, inflation in India has increased considerably. But the big question is, is this happening only in India? So, the answer is no.
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World Inflation Rate
India's position in terms of inflation is much better than that of countries like the US, Russia and the UK. Retail inflation in Russia is the highest in 20 years. There, the inflation rate has been recorded at 17.8 percent. In India, the rate is 7.79 percent. That is, inflation in Russia is much higher than in India.
Inflation in the US has reached a 41-year record level. This is the first time since 1981 in the US that inflation was recorded at 8.5 per cent in March. Similarly, in the UK, after 40 years, the inflation rate has broken all the records. In the UK, inflation has been recorded at 9 percent in April.
Apart from this, inflation in Brazil has gone up to 12.13 percent, Pakistan 13.4 percent, Egypt 13.1 percent and Turkey. In Germany too, inflation has broken a 32-year record.
Why inflation is affecting all the 195 countries of the world?
There are three big reasons.
The first reason is COVID - Due to strict restrictions, the supply chains that had taken decades to develop were broken in a few days. The impact of supply chains is a matter of concern for all countries.
The second reason for this inflation is the war between Ukraine and Russia - Due to this war, there was a grain crisis all over the world. Both Russia and Ukraine meet 25 percent of the world's food needs. Since the war, these countries have limited the export of grain.
The third major reason is the weather - Last year many states of India received unseasonal rains. There was a severe drought in Brazil after many years. There were two big storms in the US one after the other, and the weather pattern in the countries of Europe also changed significantly, affecting the crops of the farmers. The production was reduced and these crops could not be supplied in sufficient quantity in the markets.
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