Soaring crude prices make the cost of pretty much everything else go up too because we almost literally eat oil
The importance of oil to the U.S. economy has been a big concern since the oil crisis of 1973, when prices spiked, prompting calls to conserve energy.
Since then, the amount of oil...
FTA: “Producer prices as of May rose 6.6% over the past 12 months, the fastest increase on record.”
https://www.cnbc.com/2021/06/15/retail-sales-producer-price-index-may-2021.html
This is a powerful sign of imminent inflation.