An investment advisor in Albuquerque said recently that the war between Russia and Ukraine will continue to increase prices of goods and could cause supply chain issues throughout New Mexico.

David Hicks, an investment advisor with Oakmont Advisory Group, said the Russia-Ukraine conflict, combined with improving weather, means gas and food prices will continue to rise, meaning no relief is in sight for New Mexicans.

“This is just one more issue after a whole couple years of unfortunate things that we have to deal with,” Hicks said to KRQE.

Russia and Ukraine supply a third of the world’s wheat, according to KRQE, so suppliers will rush to purchase the grain. This means the price of bread will rise, especially if the conflict lasts a long time.

Oil prices are now over $100 per barrel, the highest they’ve been since 2014, KRQE said.

With inflation already high, Hicks suggested that people should examine their bank accounts and fill their emergency coffers, which many people had to empty due to the pandemic. Hicks warned that with the Ukraine conflict, gas may remain over $4 per gallon in New Mexico as food prices also rise.