[durasell]

Oil is not inflated. American goods that involve oil might be inflated because of it, but oil actually is not.

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Almost all American goods involve oil. It’s how the veggies and milk get to the supermarket as well as a key ingredient in everything plastic.

[Professional]

No, you’re right, oil certainly is a small cost in literally everything we have. But hey, there is always something that is a bit more expensive than usaul in any process, and it is quite remarkable to see so far, that oil has not really stifled the US economy. I certainly, if someone told me years ago about 80+ oil, would have predicted chaos. But that is econ for you, very hard to predict, and takes on its own life form.

[Sunnyflorida]

You simply cannot look at one commodity. Inflation is still at historically low levels. I agree with Bob Brinker who states that the only thing that can cause inflation is an increase in the supply of money.