ARE HIGH GAS PRICES JUST THE BEGINNING?
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As gas prices rise, all eyes are now on food prices as the conflict in Ukraine has the potential to shift the balance of global food security. Coming off the back of soaring food inflation after two years of failed COVID lockdowns, Are countries prepared to navigate these new geopolitical waters?
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No, inflation started with the COVID lockdowns showing 20 % food increases in 2021 already. 40% increases in fuel.
Blaming the whole inflation scenario on the Russian invasion is incorrect. It adds fuel to the fire but if the sanctions were not implemented against Russia they were willing to continue trade.