Introduction

Inflation has been low in major economies for years, but now it's running at a rate not seen in decades. Is this a temporary blip, or a more permanent change? And should policy makers be less reluctant to use a rise in interest rats to bring it under control? This week on the inquiry, we're asking, should we be worried about the return of inflation? Part one, signs of inflation. Our first expert witness is claudia salm, senior fellow at the jane family institute which looks, amongst other things, at social wealth. Inflation picked up in the united states in the late spring, early summer of 20 21. As the economy opened up,