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Billions of consumers around the world are seeing higher oil prices seep into the cost of living and wages. Filling the gas tank soon starts to cost more when crude prices climb, as does airfare, but higher energy costs also boost prices for all the products on store shelves. Workers seek higher wages to compensate for a loss in their purchasing power.

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Chikako Baba ,Jaewoo Lee ,Pacific Department ,Regional Studies Division ,Emerging Economies Unit ,International Monetary Fund ,

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