Forget Inflation

As indicated by the report, the inflation rate of Tajikistan was 3.7 in the first seven months. And the inflation rate in July was 0.6 while such rate in the past year was 6 .

This is the highest value in years (since June 2012) and the first one above zero since October of last year when a positive 0.2 was posted.

Beyond Inflation Targets

The Inflation Puzzle

Farewell to Inflation Targeting?

Rethinking Inflation Targeting

An Inflation Reality Check

Is Inflation Returning?

Is Inflation the Answer?

Inflation or Deflation?

A more recent indication that inflation targeting has not caused the disinflation seen since the 1990s is the unsuccessful effort by a growing number of central banks to reflate their economies. If central banks are unable to increase inflation, it stands to reason that they may not have been instrumental in reducing it.

China s New Inflation Constraint

The Ghost of Inflation Future

When Inflation Doves Cry

It's got nothing to do with inflation.

The Inflation of Hugo Chávez

Inflation Is Still the Lesser Evil

Thus, the Fed s 2 inflation objective was born. During the ensuing discussion, several FOMC members argued that the inflation rate might be reduced to less than 2 , but nobody argued that inflation should be pushed higher if a lower, but still positive, rate was achieved.

The Exaggerated Death of Inflation

Inflation Comes to China

Interest rates and inflation were high.

If, say, southern Europe kept its inflation rate at 0 and France inflated at a rate of 1 , Germany would have to inflate by a good 4 , and the rest of the eurozone at 2 annually, to reach a eurozone average of slightly less than 2 . This pattern would have to continue for about ten years to bring the eurozone back into balance.

Its relaxed attitude about inflation reflects its focus on the longer term past, with PCE inflation at just 1.5 for the 12 months to August of this year, the same as the core PCE inflation rate, which excludes food and energy. But PCE inflation has also been rising, with the most recent quarterly value at 2.3 year on year in the April June period.

If food inflation recedes further, and the headline inflation rate starts to converge on the 3 core (non food) rate, the result will be the equivalent of passive monetary tightening in real (inflation adjusted) terms precisely what the inflation prone Chinese economy needs.

The experience with inflation was more mixed, with three regions having somewhat higher inflation in 2004 as compared with 2003 and with three others having significantly lower inflation, particularly in the Pacific island economies.

Inflation, the Fed, and the Big Picture

But the real fear is not inflation itself that is, that prices might rise at a surprisingly fast clip this year or next. Rather, the fear is that central banks will not see inflation coming until it is too late, and that this will cause a major upward shift in inflation expectations.

And inflation has come down.

Inflation is Now the Lesser Evil

The Failure of Inflation Targeting

The Right Way to Beat Chinese Inflation

The third argument is that higher inflation today would endanger the ECB s credibility in the future. This argument, too, is hardly irrelevant higher inflation today must not be permitted to change inflation expectations in the medium run.

It's a process of academic inflation.

Russia s Eternal Inflation

1. Strongly anti inflationary monetary policy.

(d) Inflation and other cost adjustments.

Although prices are increasing around the world, Ukraine s inflation is extreme, twice as much as in neighboring Russia. Amazingly, instead of dampening inflation, Ukraine s central bank is stoking it.

For example, while annual inflation stood at 0.8 in December 2014, the minutes of the January 2015 FOMC meeting refer several times to the Committee s need to make progress toward its objectives of maximum employment and 2 inflation by maintaining a highly accommodative policy stance. Increasing the rate of inflation is now the stated objective of Fed policy.

According to the report, the goal of the Tajikistan government is to control the annual inflation rate in 2016 as 7.5 while that in 2015 was 5.1 .

In today s inflationless world, however, it is counterproductive. Yet the inflation targeters who dominate today s major central banks insist on fighting yesterday s war.

Effects of changes in rates of exchange and inflation

Effect of changes in rates of exchange and inflation

We brought inflation down from 28 percent to about 11 percent.

f Inflation at the end of the period.