Economist Yusuf Dodia has warned of a likely increase in commodity prices due to escalating geopolitical tensions in the Middle East.
Mr. Dodia cited the Iranian parliament’s decision to shut down a key oil shipping route in response to a recent U.S. airstrike on nuclear sites in Iran as a major trigger.
He explained that the move will disrupt global oil supply chains, leading to higher fuel prices which, in turn, will push up the cost of manufacturing and essential commodities.
Speaking in an interview with RCV News in Lusaka today, Mr. Dodia expressed concern over the ripple effect of the Iranian action on Zambia’s economy.
“It is unfortunate that the recent decline in commodity prices may be short-lived,” said Mr. Dodia.
He has since urged Zambians to brace for higher prices as tensions in the Middle East continue to intensify.
By Christabel Kamunu
