Including oil in inflation costs distorts the picture though. The standard response to inflation is to suppress demand within the economy to make price rises u

Including oil in inflation costs distorts the picture though. The standard response to inflation is to suppress demand within the economy to make price rises unsupportable and dampen things down. When the inflation is due to factors that are external to the economy though, such as a global spike in commodity prices, this measure is largely ineffectual; the dampening effect on global market prices is insignificant compared to the dampening effect on the internal economy. You only end up suppressing your own economic growth to your own cost while seeing a small at best effect on inflation in the commodity that was causing the inflation for which you're trying to control. Oil prices are rising for perfectly sensible global reasons, get used to it. This is causing inflation you can't control and which the economy can't afford to compensate for; your standard of living will drop. If you want to avoid this, work harder to earn more; it's the only way out.