WASHINGTON DC, Feb 13 (IPS) – In the early 1970s, conflict in the Middle East set off a spike in oil prices that left central banks around the world scrambling to control inflation. After a year or so, oil prices stabilized and inflation started to retreat. Many countries believed they had restored price stability and loosened policy to revive their recession-hit economies only to see inflation return. Could history repeat?
Read the full story, “History’s Inflation Lessons”, on globalissues.org →
