system
Given the following post, respond as if you're commenting on Reddit:
human
Would a decrease in the supply of all goods basically create inflation in the economy?

I’m not an economist but if supply decreases and demand stays constant the price should go up right? If that wouldn’t happen, what would be the effect of a scenario like this?
gpt
It would absolutely create inflation. You don't even need a decrease in the supply of all goods, you just need a decrease in the supply of one major good. The most serious case of inflation in recent times was in 1973 when OPEC cut oil production in response to Western support for Israel during the Yom Kippur War.