Fuel and food costs are expected to rise as the Russian invasion harms Australia's economy

Economists have cautioned that the global shock caused by Russia's invasion of Ukraine might have unintended effects on Australia's economy.

The EU is rushing to reduce its reliance on Russian gas and oil by as much as 80% this year, which is only one of the reasons driving crude oil prices to new decade highs. On Tuesday, the United States and the United Kingdom imposed an embargo on Russian oil imports, driving West Texas c....