What The Ukraine-Russia War Will Cost YOU

Here’s what all of this will cost all of us.

While inflation in America is already at its highest level since the last 40 years, Russia’s new attack on Ukraine will result in inflation surging another 10 percent as the invasion continues.

According to Fox Business, this new conflict has already sent the cost of oil to above $100 per barrel for the first time since 2014.

Furthermore, Brent crude oil, which is a global standard, soared in costs by more than 8 percent and reached a price of $105.50 early Thursday.

Now experts predict that the new war in Ukraine could cost oil to surge even as high as 20% making a single barrel of oil cost as much as $120. If this happens then U.S. consumer prices could spike an additional 10 percent or more on an annual basis.

JPMorgan Chase economists have also predicted that Putin’s actions will likely cause the cost of oil to reach $120 per barrel as well.

RSM chief economist Joe Brusuelas has warned, “The potential for a broader energy shock to the global and U.S. economies should Russia invade Ukraine has added to a combustible mix of factors that is causing inflation to accelerate in the United States and abroad. That risk carries with it the potential to slow down growth.”