Duh. My question was how much, and how do you enact the policy with specific actions. You just kept repeating 'cumulative inflation' like some kind of senile parrot.Learn how to read moron.
Key Takeaways
- Higher oil prices contribute to inflation directly and by increasing the cost of inputs.
- There was a strong correlation between inflation and oil prices during the 1970s.
- Oil's potential to stoke inflation has declined as the U.S. economy has become less dependent on it.
- Oil prices exert a greater influence on producer prices because of oil's role as a key input.
- Some argue that costly renewable energy could re-strengthen the correlation between energy costs and a higher inflation rate.