“There will be a Putin inflation component,” he said on CBS’s “Face the Nation,” due to “the disruption that Putin’s war implied for commodity prices, supply chains and shipments.”
Allianz SE’s Mohamed El-Erian said the economic fallout from Russian President Vladimir Putin’s full-scale invasion of Ukraine is likely to include a further pickup in U.S. inflation.
US consumer prices rose at a 7.9% annual rate in February, keeping inflation at 40-year highs. El-Erian said he estimates the rate will peak at “very close or above 10%” before retreating.
