section_path: Inflation effects
section_name: Inflation effects
paragraph_text: Inflation effects
  
  Fossilflation is a term that describes the impact of fossil fuels on inflation.
  
  According to Vox in August 2022, "Economists have pointed to energy prices as the main reason for high inflation," noting that "energy prices indirectly affect virtually every part of the economy". Sectors that raise prices significantly as a result of higher fossil fuel prices include transportation, food, and shipping.