3 ms·
Don't forget a lot of the run-up in prices was due to a fall in the USD, which the oil prices are quoted in. Countries with resource-exporting economies (like
by brc 17y ago
Don't forget a lot of the run-up in prices was due to a fall in the USD, which the oil prices are quoted in. Countries with resource-exporting economies (like Canada) did not see anything like the percentage increase in fuel prices at the pump that the USA saw.
- stretchwithme 17y agoThe fall in the US dollar IS the same problem. When the Federal Reserve pumps too much money into the economy, the value of the dollar drops and prices rise. Inflation is the economy overheating.