Opinion
Buckle up – the inflation battle is entering a tricky new phase
The most important attribute for central bankers this year will be flexibility in the face of inevitable forecast errors and an ability to communicate the need for policy to adapt to changing circumstances.
Chris GilesThere is a fair chance that by the time the trees come into leaf in Washington, Frankfurt and London, this decade’s inflation crisis will definitively be over. The eye of the storm has already passed and prices have been rising at rates no higher than central banks’ targets in recent months.
In the six months between May and November last year, for example, the annualised rate of consumer price inflation was only 0.6 per cent in the UK and 2.7 per cent in the eurozone.
Financial Times
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