Predicting inflation rate for oil-dependent economy using machine learning

The increase use and popularity of Machine Learning to fix simple and complex problems.
• Can machine learning be use to fix the problem of predicting inflation rate
• Which is more accurate to predict inflation rate, the machine learning models or the traditional statistical models
• Which is the best machine learning model which have the most promising results to predict inflation
• In oil dependent economy, what are the factors which will effect the inflation rate to be considered in the machine learning predictions.