An ongoing wave of violent protests in Peru shows how the Russian invasion of Ukraine is affecting markets around the world, sparking unrest and deepening political divides.
Rising fuel costs originally triggered the protests, which started last week, but quickly intensified into large anti-government demonstrations with marches and road blockades.By Wednesday, at least six people had been reported dead over days of protests, according to Peruvian authorities, as officials called for calm and struggled to contain the situation. At least nine major roads in the country remained blocked by protesters.
As a result, Peru's inflation in March was the highest in 26 years, according to the country's Institute of Statistics. The segment most exposed was food and fuel, with prices up 9.54% since last year, the Peruvian Central Bank reported.With prices rising so fast, it didn't take long before protests started spreading across the country. And on March 28, a group of transport workers and truck drivers' union called for a general strike to demand cheaper fuel.
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