Professor and academician Taki Fiti, spoke on the “Top tema” show about world inflation during the Russian military action in Ukraine.

The price per barrel has risen since the beginning of the war. One barrel contains 158 liters of oil. Energy prices began to rise before Russian aggression. In October 2021, the price of natural gas increased by 450% in Europe, and in the United States by three times, and the price of coal increased by five times. It also hit China, which is a huge consumer of coal, Fiti said.

According to him, the big rise in energy prices is due to the rapid recovery of the world economy in 2021.

Amid the covid crisis, prices were low, but now that rapid economic growth has begun, it is now certain that growth will be 5.5 globally. The decline was 3.1%. This is the largest increase in the last 80 years. We have not experienced anything like this. Demand for prices is growing because of this. The second factor is the reorientation from renewable to non-renewable sources, says Fiti.