Counting the Cost

Will oil prices keep rising, and how will that affect inflation?

The increase this year, driven by geopolitical tensions and supply shocks, could hamper efforts to rein in inflation.

Oil prices are at their highest level in months and central banks are keeping a close eye on the markets.

For the first time since October, Brent crude, the international benchmark, topped $91 a barrel last week.

That threatens a rise in gasoline prices in the United States and elsewhere, reigniting fears over inflation.

The increase in prices has been driven in part by geopolitical tensions in the Middle East.

Supply shocks after several output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies are also pushing prices up.

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