18 Aug 2024 10:50 am
What caused inflation in the 1970s?
The dramatic acceleration of inflation between 1972 and 1974 can be traced mainly to three "shocks": rising food prices, rising energy prices, and the end of the Nixon wage-price controls program. Each of these can be conceptualized as requiring rapid adjustments of some relative prices.
https://www.nber.org › chapters
The Anatomy of Double-Digit Inflation in the 1970s
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The dramatic acceleration of inflation between 1972 and 1974 can be traced mainly to three "shocks": rising food prices, rising energy prices, and the end of the Nixon wage-price controls program. Each of these can be conceptualized as requiring rapid adjustments of some relative prices.
https://www.nber.org › chapters
The Anatomy of Double-Digit Inflation in the 1970s
I'd like to pin this.