Global Economics

Global Economics Focus

13 November, 2017

Will inflation ever pick up again?

We think the average inflation rate in advanced economies will remain lower than it was in the pre-crisis period for the foreseeable future, for several reasons. In some economies, there is more spare capacity around than meets the eye; in others inflation expectations have become stuck at a low level; and most central banks appear unwilling to provide even more policy support. But most importantly, globalisation and technological change have weakened the relationship between spare capacity and inflation.


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