Oil Prices as Drivers of Inflation

June 27, 2022

Presented by Lutz Kilian

U.S. inflation has surged in recent months, renewing interest in understanding how rising oil prices have contributed to inflation. Lutz Kilian, Senior Economic Policy Advisor at the Dallas Fed, discusses:

• How motor fuel pricing relates to fluctuations in crude oil prices
• How different inflation measures have responded to higher motor fuel prices
• The effects of the Russian invasion of Ukraine on global oil prices