Global Market
- Because Russia is too powerful to lose the war yet too weak to win it, the Russo-Ukraine conflict is far from over.
- Given that Russia and Ukraine control a big percentage of the oil market, this has created enormous uncertainty and supply limits in the global commodities market.
- Because oil is a basic commodity in practically every manufacturing process, this has had a global rippling impact on the pricing of basic commodities such as fuel, as indicated by a 9.2 percent year-to-date global inflation rate.
Regional Market
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As the whole world continues to suffer the effect from the global inflation, the regional economy was not spared as they recorded a 5.9% inflation rate for the month of May.
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