Economists raise inflation forecasts as Russia-Ukraine war blurs future for peak prices

Fuel prices are displayed at gas stations on March 03, 2022 in Chicago, Illinois. Increasing demand and dwindling supplies coupled with global supply uncertainty driven by the war in Ukraine have driven gas prices over $4-per-gallon in many parts of the country.
Scott Olson | Getty Images

Russia's Ukraine invasion has sparked an unprecedented rally in commodities that is likely to keep inflation burning hotter and longer.