To fight inflation, of any kind, you need to tighten the money supply. This can be done by raising interest rates. Greenspan now has his excuse to raise rates. People will think he is trying to fight the rising CPI, when actually his intention will be to slow the stock market down. Too bad that Greenspan is being faked out by oil, along with everybody else.
Nobody talks about it anymore.
But ask anyone in business. Profits are getting squeezed. Companies are fighting for every penny of revenues they can get. Competition, while good for consumers, is killing most businesses. Prices are dropping in almost every industry due to competition.