Date uploaded: 2022-03-25 17:41:09

Russia’s war on Ukraine has magnified inflationary shockwaves across the U.S. and the world, including startling price increases for gasoline, oil – and food. Though it's too early to predict how much prices will rise, the cost of corn, barley and other grains is higher. Cooking oil prices, from sunflower to cottenseed, have skyrocketed. Fertilizer costs are up. Grain-carrying ships have been blocked from ports. Even beer prices, already affected by the cost and supply of aluminum cans, could jump. "About one-fifth of the barley used in beer production comes from Russia and Ukraine," Bart Watson, chief economist at the Brewers Association, told USA TODAY. But it's wheat – a third of which the world imports from Russia and Ukraine – that could cause some of the biggest ripples in world food markets. Triggered by inflation, U.S. prices began rising last year as the economy struggled to rebound from the coronavirus pandemic. After Russia invaded Ukraine on Feb. 24, increases accelerated over fears of reduced oil production and disruptions in agriculture and energy supply chain disruptions, USA TODAY reported. Wheat exports provide a good snapshot of Ukrainian and Russian positions in the world food chain. Click the link in our bio to read more.