Where Are We In The Battle Against Inflation?

我们在与通货膨胀的战斗中在哪里?

The Inquiry

新闻

2025-02-04

23 分钟
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In the decade that followed the Great Financial Crisis, inflation rates remained low and steady, and in some cases even threatened to turn negative, as economies around the world struggled to recover. This era came to an abrupt end in recent years following the double economic shocks of the COVID pandemic and Russia’s invasion of Ukraine. Many central banks and senior policymakers were caught on the back foot as inflation rates soared to levels not seen for nearly half a century in some countries. Although rates have since come down from those highs, they’re still proving tricky to completely get under control, causing concern among some observers. This week on The Inquiry, we explore what inflation is and where it comes from, what’s been happening in recent years, and what the outlook might be. Presenter: Tanya Beckett Producer: Ben Cooper Researcher: Katie Morgan Technical producer: Richard Hannaford Production Co-ordinator: Liam Morrey Editor: Tara McDermott Contributors: Stephen D. King, author and Senior Economic Advisor at HSBC Vicky Pryce, Chief Economic Advisor at the Centre for Economics and Business Research Marieke Blom, Chief Economist and Global Head of Research at ING Manoj Pradham, author and Chief Economist at Talking Heads Macroeconomics
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  • Welcome to the Inquiry with me, Tanya Beckett.

  • One question,

  • four expert witnesses

  • and an answer Many countries have had a tough task on their hands managing their economies in the last few years.

  • The COVID pandemic and then the war in Ukraine sent the cost of everything from food and energy to technology,

  • clothing, even furniture higher.

  • And once prices had started on an upward path, they ended up proving rather tricky to stop.

  • Rising costs are damaging for economies as they cripple household budgets and stop businesses investing.

  • At the end of last year, there was considerable hope that after three tough years, the beast had finally been slain.

  • But then new economic data emerged that cast fresh doubt.

  • The financial markets started getting jittery, and in January,

  • International Monetary Fund managing director Kristalina Georgieva admitted that the battle was not over yet.

  • The head of the genie is in the bottle.

  • Most of the body of the genie is in the bottle, but the legs.

  • Are kind of hanging still out.

  • We need to push it all the way down.