An increase in the price of crude oil could trigger cost-push inflation.

Name: An increase in the price of crude oil could trigger cost-push inflation.
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Question

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When the price of crude oil increases, it can cause an increase in the production cost of goods and services that rely on oil for production, transportation, and distribution. This increase in cost is passed onto the consumers in the form of higher prices, thus leading to cost-push inflation.

An Increase in the Price of Crude Oil Could Trigger