<P> The crisis led to stagnant economic growth in many countries as oil prices surged . Although there were genuine concerns with supply , part of the run - up in prices resulted from the perception of a crisis . The combination of stagnant growth and price inflation during this era led to the coinage of the term stagflation . </P>
<P> The crisis led to stagnant economic growth in many countries as oil prices surged . Although there were genuine concerns with supply , part of the run - up in prices resulted from the perception of a crisis . The combination of stagnant growth and price inflation during this era led to the coinage of the term stagflation . </P>
were the two oil crises in the 1970s linked to deflation or inflation
were the two oil crises in the 1970s linked to deflation or inflation
inflation
inflation