Oil prices do cause other price increases, but this is not inflation. Inflation is printing money, and only the government can do that. Other things besides inflation can cause price increases, like Biden’s stupid fossil fuel policy. But when the government runs up a huge debt, they can’t possibly cover it all by raising taxes. There would be a revolution. So they “create” more money, which dilutes the money supply and reduces the value of the dollar. It’s a hidden tax on everything.
“It’s a hidden tax on everything.”
I get that but the prices we are paying in the scheme of things is what matters.
Both contribute.
If gas was less than 2 bucks not sure we would notice inflation as much as we do.