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Erudite1
In economics, stagflation refers to a situation that is a combination of stagnation and inflation and in which the inflation rate is high, economic growth is slow and unemployment remains steadily high.
The embargo by the OPEC in 1970 caused the oil price to go up and this resulted in inflation.

The answer is: Oil prices greatly increased; as much as 400% in one year.

Embargo refers to official trade ban that a certain country/organization give to another country.

Many western nations (including united states) depended heavily on the oil products that produced by OPEC. After the embargo, the OIL supply in united states became extremely scarce, This make the oil price in united states experience a drastic increase within the course of one year.

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