CNN: Exclusive: Russia-Ukraine conflict could cause inflation to hit 10%, new analysis finds
New York (CNN Business)The cost of living is already very high in America. The Russia-Ukraine crisis could make it even worse.
Oil prices have jumped well above $90 a barrel in recent weeks as the risk of a Russian invasion has increased.
If the Russia-Ukraine crisis drives oil to about $110 a barrel, inflation in the United States would exceed 10% on a year-over-year basis, according to a new analysis by RSM shared exclusively with CNN.
The US economy hasn't experienced 10% inflation since October 1981, according to government statistics.
"We're talking about a real short-term shock," said Joe Brusuelas, chief economist at RSM.
Read more ....
Update #1: Here’s how much US inflation would rise if Russia invaded Ukraine (NYPost)
Update #2: How a Russia-Ukraine conflict could impact the economy and markets (Nicholas Sargen, The Hill)
WNU Editor: Even President Biden is jumping on the band-wagon that a Russian invasion of Ukraine will cause economic harms on Americans .... You’re going to feel this, Biden tells Americans, as Ukraine war looms (The Guardian).
So typical of politicians. Better to blame someone else for your disastrous policies rather than yourself.
from War News Updates https://ift.tt/BMYyWhr
via IFTTT
Comments
Post a Comment