In 2004, with the rapid growth of the world economy, major countries and regions in the world once faced the pressure of inflation. According to the statistics of the International Monetary Fund, in 2004, consumer prices in the United States rose by 3%, in the euro area by 2. 1%, and in developing countries by 6%. However, through a series of measures such as raising interest rates, the pressure of inflation has been basically eliminated. However, from the global situation in 2005, due to the rapid rise in the prices of primary products such as oil, agricultural products and raw materials, the pressure of inflation still exists. (1) Oil prices remain high. Since 2004, the international oil market has been turbulent, and the oil price once hit a record high for more than 20 years. The duration of the strong impact of high oil prices is rare since the two oil crises in the 1970s. Recently, the oil futures price in new york market exceeded $55 per barrel, reaching the highest level in more than four months. Many experts predict that the oil price will rise to more than 60 dollars a barrel this year. At present, the main reasons for the rapid rise of oil prices are: first, the continuous growth of demand, and second, the continuous depreciation of the US dollar. Since oil is priced in dollars, a lower dollar exchange rate means a decline in the real income of oil-producing countries. The third is speculation. At present, it seems that the upward trend of world oil prices that started last year will continue this year. The overall impact of rising oil prices on world economic growth is still limited, which will not derail the economic recovery of the United States, but will have a more serious impact on countries with slow economic growth in recent years, such as Japan and the euro zone.

Oil prices fluctuate as a whole, but there are many ups and downs (ups and downs are exaggerated and rare in history).

If the American economy recovers rapidly in the future, there should be a small trough in oil prices. However, due to the reduction of resources and the intensification of competition among countries, it is only a matter of time before oil prices will definitely rise.