Is Inflation Coming Now?

Many economists say that the prices, which have been rising for some time, are based on special effects such as supply chain problems or catch-up effects caused by the pandemic. Inflation rates would fall again in 2022. However, numerous indicators speak a different language. The increase is the highest in 50 years, when the first oil price shock shook the world. The current increase could be the beginning of a prolonged stagflation. What factors are driving the development today and in the future? What options does the ECB have to counteract this?

Due to current hygiene regulations and to keep the risk of infection low, this year's Christmas Lecture will not be held in the Great Auditorium of Ludwig Maximilian University as usual, but as an online event via livestream.