Zero Hedge: Raw Materials Fetch Premium Prices
While longer-term structural factors are at play, the effects of the war in Ukraine are felt in many ways – the one that is probably most pervasive in the daily lives of people around the world is rising prices. As Statista's Katharina Buchholz notes, Russia and Ukraine have a significant influence on the world economy due to their role as suppliers of a number of essential raw materials. These include fossil fuels, agricultural commodities as well as several metals.
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WNU Editor: Russia exports many of these commodities. It explains why inflation has become a problem, and why the ruble is now at record highs .... Rouble hits fresh highs against dollar, euro (Reuters).
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