Commodity prices rise sharply after Russia’s invasion of Ukraine
Energy prices already account for around 50% of headline inflation in the eurozone
Russia’s invasion of Ukraine caused sharp rises in European commodity prices today (February 24), when energy is already helping drive higher eurozone inflation.
Observers fear Russia’s aggression could disrupt key supplies of oil and gas, sending prices even higher. Vladimir Putin’s regime could react to financial sanctions imposed by the US, UK and European Union by reducing exports to its European clients.
Earlier this week the German government cancelled the certification of the Nord
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