Author Topic: Ukraine-Russia crisis could push inflation to 10% if conflict escalates  (Read 191 times)

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Offline Ptarmigan

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Ukraine-Russia crisis could push inflation to 10% if conflict escalates
https://www.foxbusiness.com/economy/ukraine-russia-crisis-inflation-impact

Quote
U.S. inflation is already at the highest level in four decades. The worsening Ukraine-Russia crisis could push it even higher.

That's because the conflict is threatening to send oil prices above $100 a barrel for the first time since 2014, according to RSM chief economist Joe Brusuelas. Oil prices already surged to a fresh eight-year high on Tuesday after Moscow ordered troops into two breakaway regions in eastern Ukraine, with Brent crude, the global benchmark, hitting $97.63.

A war in Europe – which many foreign policy experts say is a real possibility – could cause oil prices to climb as much as 20% to $120 a barrel, Brusuelas estimated. Should that happen, consumer prices in the U.S. would surge above 10% on an annual basis, the economist said, the highest since October 1981.

If things escalte, oil and inflation could rise even further.
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Offline Drafe Hoblin

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Re: Ukraine-Russia crisis could push inflation to 10% if conflict escalates
« Reply #1 on: February 24, 2022, 05:09:02 AM »
Sickle-down...

At this rate, a few oligarchs will own the country by the end of the day.  -Oh, wait...   
Too deplorable to fail.

Offline Drafe Hoblin

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Too deplorable to fail.

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