#oil-price-shocks

#oil-price-shocks

Oil shocks are especially painful because of the commodity's wider uses, not least in fertiliser, and the knock-on effects for manufacturing and transport. And the poor are hit hardest. Recent research published by economists at the University of Massachusetts Amherst identified energy, along with food and agriculture, as among the commodities that have a disproportionate capacity to increase inequality when their prices rise.