Inflation in America has more to do with the COVID lock downs in China. Ukraine is having more of an effect on Europe which is highly dependent on gas from Russia.
What's the data or reasoning behind your claim? Inflation in Europe also started an upward trajectory early last year and became unusually high well before the war in Ukraine.
There were also very few COVID lockdowns in China in 2021, most were in early 2020 and then some major ones occurred in 2022 but those, like Ukraine, were well after inflation started to rise in USA and Europe. Not to say the early 2020 China lockdowns could not have caused later inflation, but is that what you are claiming?
There were also very few COVID lockdowns in China in 2021, most were in early 2020 and then some major ones occurred in 2022 but those, like Ukraine, were well after inflation started to rise in USA and Europe. Not to say the early 2020 China lockdowns could not have caused later inflation, but is that what you are claiming?