To understand the possible trajectory of inflation in 2022 and beyond, it is helpful to understand why the United … States and Europe had so much inflation in 2021. …

This paper studies the recent trends in inflation in the euro area and estimates to what extent the current … inflationary pressures are driven by demand expansion and by supply side disruptions. First of all, consumer price inflation is … consumer prices, accounting for almost three-quarters of total headline inflation. The fact that price pressure comes mainly …

After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by … global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise … monetary policy tightening, inflation upside risks are large. How can central banks restore control – and with it their own …

inflation target and the degree of real wage rigidity. It turns out that using core inflation rather than headline inflation is … the superior strategy. Targeting expected headline inflation, as practised by most central banks, is a viable practical … alternative to the core inflation target. …

To gauge the breadth of current inflation and prospects for inflation returning to target, we consider disaggregated …