The crisis between Russia and Ukraine

Nancy Shereni

The crisis between Russia and Ukraine has again highlighted how interconnected the world is.

“Increasing oil prices, constrained supply chains and surging food prices as a result of the war in Ukraine justifies a revision of the Zambian inflation for 2022.

Based on the recent developments in Ukraine and the subsequent sanctions on trade with Russia, Kukula expects increases in global food and oil prices to pose a significant challenge to the Zambian government’s ambition of reducing inflation to 6 – 8% annually. Although the recent surge in Brent crude is expected to dampen, global food prices are expected to increase significantly and drive up food inflation in Zambia back to 2021-levels.”