Absa economists warn that supply chain disruptions due to Russia’s invasion of Ukraine could cause increased prices on cars and electronics.
Russia’s invasion of Ukraine may cause supply chain disruptions to semiconductor chips that could push up prices of cars, TVs, household appliances, and electronic devices.
“With Ukraine and Russia together accounting for 70% of the world’s exports of neon gas, the conflict may impair the supply of critical semiconductor chips, which was only just beginning to settle after the disruptions of the pandemic,” the economists said. Absa’s economists predicted that new vehicles and other chip-reliant goods such as TVs, household appliances, and phones might experience some supply challenges that could increase prices.
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