Anyone who’s bought food, paid rent or looked for a used car recently has come up against the billowing inflation that has engulfed the U.S. economy.<\/p>\n
And, with surging oil prices keeping gasoline high, so has anyone who’s filled up a car.<\/p>\n
Energy costs have been one of the main drivers of what’s become the highest inflation in a generation. In recent days, the price of a barrel of U.S. benchmark crude oil hit a seven-year high $87 a barrel, a dizzying jump of about 36% since Dec. 1.<\/p>\n
That price spike reversed a nearly equally steep plunge that began in late October. Because oil has a direct effect on the prices of gasoline and home heating oils, consumers have been battered by the wild volatility.<\/p>\n","protected":false},"excerpt":{"rendered":"
Anyone who’s bought food, paid rent or looked for a used car recently has come up against the billowing inflation that has engulfed the U.S. economy. And, with surging oil prices keeping gasoline high, so has anyone who’s filled up a car. Energy costs have been one of the main drivers of what’s become the highest inflation in a generation. In recent days, the price of a barrel of U.S. benchmark crude oil hit a seven-year high $87 a barrel, a dizzying jump of about 36% since Dec. 1. That price spike reversed a nearly equally steep plunge that began […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-463706","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/463706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=463706"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/463706\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=463706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=463706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=463706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}