So Russia provides a ton of oil. Oil is an input into basically everything you've ever owned. The instability and lack of supply of oil as a result of the war is driving an increase in the price of oil, which is driving an increase in the price of goods. An increase in the price of goods means a decrease in the purchasing power of the dollar. This is how inflation is calculated.
Ergo, the Russians launching the war in Ukraine significantly contributes to inflation.
Is it solely responsible? Of course not. Does it contribute? Oh most definitely.
Ergo, the Russians launching the war in Ukraine significantly contributes to inflation.
Is it solely responsible? Of course not. Does it contribute? Oh most definitely.