price shocks
Sudden expense surges
Price shocks are sudden, unexpected changes in the cost of goods or services—usually increases significant enough to disrupt markets or household budgets.
The term appears most often in discussions of commodities like oil, where supply disruptions can send prices spiking overnight: The 1973 oil embargo caused price shocks throughout the economy.
Price shocks can trigger inflation, force policy changes, or reshape entire industries.
- inflationSustained price level increase
- cost of livingPrice of basic necessities
- surgeSudden powerful increase
- spikeSharp rise or point
- volatilityRapid, unpredictable changeability
oil · oil crisis · crisis · economic turmoil · market · market crash · disruption · commodities · panic · panic buying · recession · supply · supply chain · demand · crash · turbulence · gasoline · shortages
- energy impactsoil spills, carbon emissions, air pollution, greenhouse gases, emissions
- art storiesstarving artist, commissioned work