It should be noted that when energy and oil prices rise, the economy tends to experience Cost-push inflation.
What is Cost-push inflation?
Cost-push inflation can be regarded as the types of inflation that takes place when overall prices increase as as a result of increases in the cost of wages as well as raw materials.
Therefore, in the case of rise in energy and oil prices, there would be Cost-push inflation.
Learn more about Cost-push inflation at:
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