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How Energy Is Driving Inflation—and How It’s Not

Wall Street Journal Markets •
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As diesel crosses $6, so does the risk that soaring energy costs will start hurting far beyond gas pumps.

The surge in energy costs is raising inflation pressures, with diesel setting off wider concerns about how far the impact may spread.

The risk is that higher energy prices are being felt beyond fuel pumps, affecting businesses and consumers across the economy.

While energy is a major driver of inflation, the impact is not limited to transportation or gasoline.