Something will cause inflation to go up this year, but it’s not oil

The article challenges the conventional wisdom that oil crises were the primary cause of inflation in the 1970s and '80s. It suggests that other factors will drive inflation higher this year, contradicting the common narrative about oil's role in inflationary periods.

• →The oil crises of 1973-74 and 1979-80 were not the actual cause of 1970s-80s inflation despite popular belief.
• →Current inflation expectations may be misplaced if focused primarily on oil price movements.
• →Alternative factors beyond oil are expected to drive inflation upward in the current year.
• →Historical analysis of inflation causes may need reassessment based on this perspective.
• →Understanding true inflation drivers is crucial for economic forecasting and policy decisions.