Currently, Russia s greatest economic concern is growing inflationary pressure, driven especially by food prices.

If Brazil s government does not tighten fiscal policy, the exchange rate will generate more inflationary pressure from the rise in prices of imported goods.

First, inflationary pressure will grow in already overheating emerging market economies, where oil and food prices represent up to two thirds of the consumption basket.

Inflationary Angst

The longer energy prices remain at their current lofty levels, the greater the probability that inflationary expectations will increase and that second round effects will materialize.

While the appreciation of the real s exchange rate kept a lid on prices for tradable goods, non tradable goods, especially services, remained a source of inflationary pressure.

1. Strongly anti inflationary monetary policy.

China is now facing inflationary pressures.

1. Strongly anti inflationary monetary policy.

Chinese investors are worried about inflationary overheating.

As European growth slows, so will inflationary pressures.

The ECB should drop its inflationary bias because the European economy is weakening, and the weaker economy will contain whatever inflationary pressures now exist.

To rein in rising house prices and pre empt the inflationary impact of the strongly expansionary fiscal and monetary policies implemented during the global financial crisis, China s monetary authorities began to tighten financial conditions in January 2010.

Higher domestic consumer spending would otherwise create inflationary pressures.

He has also worked successfully to contain inflationary pressures.

Consider, next, whether the inflationary cure would work as advertised.

The dreaded inflationary endgame suddenly looms as a very real possibility.

It will be difficult to ease these inflationary pressures this year.

The world became much more inflationary, and quite a bit more protectionist.

Such price increases can prove particularly inflationary in countries that import commodities.

Nor is it inflationary if the wage increases are financed by higher taxes.

In normal times, the Fed s response extremely monetary stimulus would be highly inflationary.

But former US Federal Reserv e Chairman Alan Greenspan warns of inflationary dangers.

Put differently, these institutions do not offer a credible, non inflationary, external source of strength.

Trichet also makes his job more difficult for himself by talking up Europe s inflationary threat.

Moreover, the PBOC has issued Central Bank Notes six times, reinforcing its anti inflationary effort.

Worse still, in the medium turn the monetary overhang may lead to significant inflationary risks.

After an initial inflationary surge, American economic growth fell off sharply in the 1970 s.

Much of the growth merely compensates for the exceptionally high inflationary pressures in Russia s defense sector.

But Russia s government is no longer trying to mitigate these factors, instead pursuing an inflationary policy.

And a non inflationary boost to growth in a weak global economy would be particularly timely.

Prices

Food prices are soaring. Oil prices are at historic highs.

Instead of moderate inflation, most of the twentieth century was wildly inflationary, as governments over issued currency.

During the inflationary 1970 s, a byzantine system of allowances was instituted to supplement lagging parliamentary salaries.

China s economy is prone to rapid growth, with buoyant investment demand sustaining powerful short term inflationary pressures.

All this is happening at a time when inflationary pressures hamper the usual monetary and fiscal remedies.

To dampen the additional inflationary pressures implied by a weaker rupee, more aggressive fiscal retrenchment is needed.

Given modest inflationary pressures, long term real interest rates rose but nevertheless remained close to historical lows.

Housing prices peaked in 2006, and equity prices peaked in 2007.

Shortages of natural gas increased fertilizer prices, pushing up food prices.

These may be either the best country prices or perhaps even international prices, but they are not local farm gate prices.

The question of overall deflationary or inflationary impact depended (and still depends) on the total quantity of money.

That has been sufficient to convince markets that any stimulus will be withdrawn before significant inflationary forces gather.

The debate in the 1970 s the period of the last general inflationary surge has become relevant again.