Question

The high inflation rates of the late 1960s and early 1970s were due in part to

Answer 1

Answer:

the rising of oil prices.

Explanation:

the price of oil has tripled in pricing and were due to rising wages.

Answer 2

The high inflation rates of the late 1960s and early 1970s were due in part to the cause of increased rate of oil.

What is the inflation rates ?

India Inflation Rate Highest Since October 2020. Annual inflation charge in India elevated to 6.95% in March of 2022, the best seeing that October of 2020, and above marketplace forecasts of 6.35%

After the great oil shocks, oil prices quadrupled in 1970s and doubled in 1980s. The combination of high inflation and weak economic growth, fueled by repeated supply shocks, led to the phenomenon of 'stagflation'.

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