oil in general is used i production of goods and services.. oil as in petrol oil can be used in manufacturing products and if oil price is high, cost of production would be on the increase so this will result in the increase in the price of that product.
As prices rise, inflation also increases; supply increases and demands of people decrease because of high prices.
I believe that this is called high inflation or hyperinflation. Hope this helps.
when the government administers or subsidises prices of essential commoditites like rice, oil or even oil and electricity but the global prices are high, then it implies that these domestic prices would take some time to respond or adjust to global prices and in this process, the rate at which the prices respond would lead to inflation implying that it is transmitted through global prices.
Inflation, which is the rise in prices of goods and services within a country, could cause a deficit, or at least an imbalance (depending on the length of the higher inflation time period) in the current account.
profeteering
Inflation occurs when people aren't spending money, thus meaning if a consumer is spending money the prices will generally be lower, also if there is a high demand for that product
inflation!
There does not have to be any correlation between the two. High inflation, on the other hand, will decrease purchasing power if salaries don't go up as much as the inflation.
As in stagflation means inflation, slow economy with high unemployment, increased prices with tightened money supply (inflation and high interest rates). We had that when Carter was potus.
Inflation was high in 2022 due to a combination of factors such as increased consumer demand, supply chain disruptions, rising energy prices, and government stimulus measures.
No. In the early 1930s prices fell, and so did the money supply. The period of intense inflation in Germany was 1919-23.
The great Malaise as Carter would put it. It was high inflation and high oil prices. It was a nightmare and the industry of the United States was stagnated.