After beginning 1968 at 3.6%, (y-o-y) CPI jumped to 6.2% to end 1969. "Disinflation" took hold, with CPI down to 2.7% by June 1972. What had been festering geopolitical risk erupted in 1973. In response to the Yom Kippur War, OPEC announced in October 1973 an embargo on oil exports to those countries supporting Israel. Spiking energy prices fueled an inflationary surge, with CPI ending 1974 at 12.3%. The crisis subsided, with y-o-y CPI all the way back down to 4.9% by November 1976.