Brief

Check against delivery. 1 Introduction 2 Drivers of the latest surge in inflation and the response from monetary policy 3 The recent global episode of disinflation and its economic costs 4 Possible explanations for the comparatively painless process of disinflation 5 Lessons learned from the most recent episode of disinflation 6 Conclusion 1 Introduction Ladies

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Check against delivery. 1 Introduction 2 Drivers of the latest surge in inflation and the response from monetary policy 3 The recent global episode of disinflation and its economic costs 4 Possible explanations for the comparatively painless process of disinflation 5 Lessons learned from the most recent episode of disinflation 6 Conclusion 1 Introduction Ladies

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German Federal Bank

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