Editing Cost-push inflation (section)

==Examples==
One example of cost-push inflation is the [[1973 oil crisis|oil crisis]] of the 1970s, which some economists see as a major cause of the inflation experienced in the [[Western world]] in that decade. It is argued that this inflation resulted from increases in the cost of [[petroleum]] imposed by the member states of [[OPEC]]. Since petroleum is so important to industrialized economies, a large increase in its price can lead to the increase in the price of most products, raising the [[price level]]. Some economists argue that such a change in the price level can raise the [[inflation rate]] over longer periods, due to [[adaptive expectations]] and the [[price/wage spiral]], so that a [[supply shock]] can have persistent effects.<ref>{{Cite web|url=https://www.investopedia.com/terms/c/costpushinflation.asp|title=Cost-Push Inflation|last=Kenton|first=Will|website=Investopedia|access-date=2019-02-25}}</ref>