The backdrop of global and domestic inflation in the United States was already worrying. Now, Russia’s invasion of Ukraine stands to potentially make the situation worse.
The conflict has roiled global markets in recent days, causing stock market turmoil, sending oil prices higher, and injecting even more uncertainty into an already off-balance worldwide economy. It’s also sparked concerns that inflation, already running hot, could run even hotter. In the United States, the Consumer Price Index, which measures the average change in prices consumers pay for goods and services, was up by 7.5 percent over the past…
