Tackling inflation progressively – why we need a different approach to handling oil price shocks

In February 2022, Russia invaded Ukraine. By May of that year, oil prices had spiked sharply to well over $100 per barrel. This pushed-up global energy prices and caused particular hardship in the UK. Figure 1: Oil Prices over time (nominal) As oil prices are now rising again, this prompts the question was our approach last […]





























