Consumer News: Russian invasion of Ukraine driving up corn prices, gas prices continue to soar across the country

Consumer News with ABC Columbia is brought to you by Grow Financial.

CNN– Expect to feel a new shock wave in food prices. The price of corn was already on an upswing, rising nearly 45 % over the past 6 months, but Russia’s invasion into Ukraine has now caused it to spike 17% just in the past month, because Ukraine is the world’s fourth largest exporter of corn, and the country’s ports have been closed down. Since corn is used in countless products, the price increase will soon be felt in many food items.

COLUMBIA, SC (WOLO)– On this day two years ago, the national average price per gallon of gas was $2.42, and eventually dropped to $1.74 by late April. Now, GasBuddy predicts the national average will rise to $4 per gallon by the end of March. GasBuddy says national gas prices spiked to $3.73 per gallon Thursday. Wednesday’s nearly 6 cent rise in the national average was the 12th largest single day price increase on record. Here at home, the average price per gallon in Columbia sits at $3.71.

ABC NEWS– Some drivers in parts of the west are even paying more than $6 per gallon. ABC’s Em Nguyen continues our coverage.