Inflation is a concern for many these days, so the FRED Blog looks at what we know and can show about this economic phenomenon. Inflation has complex roots and is treated with policies that have effects with notoriously long and variable lags. The complexity lies in the fact that inflation can have many different causes. This current bout of inflation has been attributed to excess aggregate demand due to pandemic payouts to households, low interest rates, increasing public deficits, supply chain issues, the invasion of Ukraine, and more. None of these causes is unique to a particular country, and all seem to apply to ... (full story)