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An Overview of Inflation Developments

Author

Listed:
  • Byrne, David

    (Central Bank of Ireland)

  • Zekaite, Zivile

    (Central Bank of Ireland)

Abstract

Inflation rates have risen substantially in many countries over the course of this year. This has led to renewed interest in understanding the inflation process and in the outlook for inflation over the coming years. In the euro area and Ireland, inflation had been persistently low and below the ECB’s target for much of the time since the Global Financial Crisis. This Letter outlines the developments in inflation since the COVID-19 pandemic and explains the drivers of the current high inflation rates. This Letter then discusses the ongoing debate on the inflation outlook and potential monetary policy options.

Suggested Citation

  • Byrne, David & Zekaite, Zivile, 2021. "An Overview of Inflation Developments," Economic Letters 7/EL/21, Central Bank of Ireland.
  • Handle: RePEc:cbi:ecolet:7/el/21
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    File URL: https://www.centralbank.ie/docs/default-source/publications/economic-letters/vol-2021-no-7-an-overview-of-inflation-developments.pdf?sfvrsn=4
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    Cited by:

    1. Alali, Layla & Niesten, Eva & Gagliardi, Dimitri, 2022. "The impact of UK financial incentives on the adoption of electric fleets: The moderation effect of GDP change," Transportation Research Part A: Policy and Practice, Elsevier, vol. 161(C), pages 200-220.
    2. Adhikari, Tamanna, 2022. "Inflation and mortgage repayments: the household expenditure channel," Financial Stability Notes 6/FS/22, Central Bank of Ireland.

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