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15 Disturbing Truths About The 1970s Energy Crisis

Darren March 20, 2026 8 min

3. Economic Stagnation and Spiraling Inflation

3. Economic Stagnation and Spiraling Inflation
The 1970s energy crisis triggered stagflation, impacting growth, inflation, and employment in the U.S.

The 1970s energy crisis led to stagflation in the United States—a combination of stagnant economic growth, high inflation, and rising unemployment. This period saw inflation rates averaging over 7% annually, with a peak of 13.29% in December 1979. Unemployment also increased, reaching 9% in 1975. These conditions disrupted economic growth and eroded purchasing power, leaving a lasting impact on the economy. (fraser.stlouisfed.org)

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Darren

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