Americans may see further price increases if Russia invades Ukraine

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Americans may see further price increases if Russia invades Ukraine
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The White House says a Russian invasion of Ukraine could come “at any time'

Russia and Ukraine are responsible for a significant portion of the world’s wheat and corn.

. "There are always going to put in some risk premium yet for an event that looks like it's going to happen just in case."While global wheat prices have fluctuated, a more significant cost to Americans may come from a spike in corn costs. Corn is used in many foods and feeds animals, which would raise overall meat prices.

Russian President Vladimir Putin speaks as he attends the G20 summit via videoconference in Moscow, Russia, Saturday, Oct. 30, 2021.already rose 6.5% over the past year, the largest annual increase in the past decade. Prices for meat, chicken, fish and eggs rose even more, increasing 12.5% over the year, according to the department’s data.

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