Ukraine Conflict To Likely Result In 10% Higher Prices For Fast Moving Consumer Goods
NDTV
The Ukraine conflict has pressured FMCG firms to consider another round of price hikes to offset an unprecedented rise in commodity prices.
The escalating Russia-Ukraine conflict has pressured fast-moving consumer goods (FMCG) companies in India to consider another round of price hikes to offset an unprecedented rise in commodity prices such as wheat, palm oil and packaging materials.
The price of crude oil and a broad range of commodities have risen since Russia attacked Ukraine on supply worries.
India's inflation pressures were already rising even before Russia invaded Ukraine on February 24. Indeed, retail inflation for February rose above the Reserve Bank of India's upper-end target range of 2-6 per cent for the second straight month.
That was even before the impact of the Ukraine conflict had begun and did not consider a sharp rise in international oil costs.
