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New YorkCNN —
Russia’s invasion of Ukraine has contributed to an historic shock to commodity markets that will keep global prices high through the end of 2024, according to the World Bank.
The spike in energy prices over the past two years is the biggest since the 1973 oil crisis, while the jump in food prices is the most since 2008, the World Bank said Tuesday in its commodity markets outlook report.
“Overall, this amounts to the largest commodity shock we’ve experienced since the 1970s,” said Indermit Gill, the World Bank’s vice president for equitable growth, finance and institutions.
end quote from:
https://www.cnn.com/2022/04/27/business/world-bank-ukraine-shock/index.html
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