Policy Insight 122: Monetary policy and the return of inflation: Questions, charts and tentative answers

After three decades of moderate consumer price changes in advanced countries, inflation has returned to levels that are significantly affecting the lives of all citizens. This CEPR Policy Insight, authored by Ignazio Visco, Governor of the Bank of Italy and member of the ECB Governing Council, provides a comprehensive overview of the current macroeconomic debate on inflation, focusing on the different nature of inflation across economies and the recent conduct, possible errors, and perspectives on monetary policy in the euro area.

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Visco, I (2023), Policy Insight 122: Monetary policy and the return of inflation: Questions, charts and tentative answers, CEPR Policy Insight No 122, CEPR Press, Paris & London. https://cepr.org/publications/policy-insight-122-monetary-policy-and-return-inflation-questions-charts-and-tentative