Oil prices drop sharply, easing inflation pressures: Citi strategist

Unrefined petroleum extracted from the ground; Brent and WTI are its main global price benchmarks.

Oil prices feed into fuel, transport and goods costs, and so into inflation.

The rate at which the general level of prices for goods and services rises over time, usually measured over twelve months.

When prices rise faster than wages, households can buy less with the same income, and central banks may raise interest rates in response.

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.