Inflation Questions and Answers - QforQuestions.
This also means that imported inflation has increased a great deal. The economy had earlier witnessed double-digit inflation from 2008 to 2012 when high international crude oil prices played a significant role along with the impact of devaluation that came with a lag.
In 2011, historian Niall Ferguson claimed “Yes folks, double digit inflation is back” blaming the Federal Reserve’s “threefold” increase in the money base. In 2014, billionaire Paul Singer said he knew inflation was higher than the data showed because of “London, Manhattan, Aspen and East Hampton real estate prices as well as high-end art prices.”.
The Anatomy of Double-Digit Inflation in the 1970s Alan S. Blinder Chapter in NBER book Inflation: Causes and Effects (1982), Robert E. Hall, editor (p. 261 - 282).
And get this, inflation is already in double digits, according to Williams, if it was calculated the way BLS did it more than 30 years ago. Williams said, “.. . based on reporting of 1980, the April 2011 annual inflation rate would have been about 10.7%.” But, the double digit inflation story is not the one the mainstream media likes to tell.
Though economists have not suggested a fixed range for measuring running inflation, we may consider price rise between 10% to 20% per annum (double digit inflation rate) as a running inflation. Galloping Inflation: According to Prof. Samuelson, if prices rise by double or triple digit inflation rates like 30% or 400% or 999% per annum, then the situation can be termed as Galloping Inflation.
Inflation similarities between the 2000s and the 1970s. April 21, 2006 by Tim McMahon Leave a Comment. If you remember the 70’s culminated in a double digit blow off in inflation similar to the stock blow off which ended in 2000.
In addition, policymakers have an ex cessive aversion to inflation, a result of both economic theory and the experience of double-digit inflation in the 1970s. To be clear, this essay discusses the choice of a long-run target for the inflation rate. Currently, some economists advocate immediate but temporary increases in inflation to help end.