Will Increasing Oil Prices Reverse Progress on Inflation?

Bloomberg Quicktake published this video item, entitled “Will Increasing Oil Prices Reverse Progress on Inflation?” – below is their description.

With inflation falling from its peak of 9.1% in June 2022 to less than 4% in August, consumers might have thought the bad news was behind them. But with OPEC+ production cuts driving a 30% jump in the price of crude oil since June, complacency about inflation may be premature. Presented by @cmegroup: https://www.cmegroup.com/openmarkets/quicktake-by-bloomberg.html?utm_source=youtube&utm_medium=paid_social&utm_campaign=quicktake_evergreen&utm_content=more_insight

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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