Why High Priced Oil Isn't Sparking Inflation

Why aren't high prices for oil and natural gas causing more inflation? Partly because other commodities aren't rising as rapidly--or are actually falling in price. Gold has lost its luster, grains are selling at decade-low prices, and cocoa is a third cheaper than it was last year. Even the bacon you bring home costs less to produce than it did a few years ago: Lean hogs are going for 60 cents a pound, down from over 80 cents in 1997.

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