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The return of inflation: what are its causes and will it persist?

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  • F. De Sloover
  • J. Jonckheere
  • A. Stevens

Abstract

In early 2022, inflation hit absolute record levels in the euro area and the United States. What explains these huge price rises? To what extent will this high inflation persist? How has monetary policy reacted to it so far? This article attempts to find some answers to these questions. Although it concentrates on the situation in the United States and the euro area, it also takes a look at the specific situation in Belgium whenever there are particular developments here.

Suggested Citation

  • F. De Sloover & J. Jonckheere & A. Stevens, 2022. "The return of inflation: what are its causes and will it persist?," Economic Review, National Bank of Belgium, pages 1-31, May.
    • Handle: RePEc:nbb:ecrart:y:2022:m:may1
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