Russia's attack on Ukraine is worsening supply constraints that have lingered since the onset of the coronavirus pandemic. Prices of wheat, corn and other grains have soared 25% since the war began on the 24th of February. Prices at the petrol pump have surged as the threat to crude oil supplies rises. The benchmark barrel, WTI, is at least 10% more expensive compared to just two months ago.

We were joined by Joseph Foudy in New York. He's an economics professor at the NYU Stern School of Business.

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