Inflation pressures are increasing as the Israel-Hamas war drives oil prices up. Food has also gotten more expensive due to the outbreak of lumpy skin disease among cattle.
On Oct. 6, 1973, the Yom Kippur War broke out between Egypt and Israel. The oil price immediately fluctuated. Petroleum prices surged from $2.9 per barrel to $11.6 in January 1974. It was the first oil shock.The impact was beyond...
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