Ukraine crisis takes a toll on Peru’s economy

As the Ukraine crisis rages with no breakthrough on the horizon, the world is still being heavily impacted by the continued increase in prices, driven by the shipping disruption and the increase in oil prices.

Peru, is by no means, an exception. The economic fallout has taken its toll on Peru, as oil prices continue to skyrocket, affecting all aspects of everyday life, especially for commuters. Most of the prices have been fixed, nonetheless, they are feared to follow suit.

Herbert Mujica, who is a Journalist and Political Analyst, said the consumers are the ones who bear the brunt of the worsening financial situation and have to pay the additional cost of the rise in oil prices because they are the ones that use the vehicles in the streets.