{"id":56884,"date":"2021-05-07T07:41:34","date_gmt":"2021-05-07T06:41:34","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=56884"},"modified":"2021-05-07T07:41:34","modified_gmt":"2021-05-07T06:41:34","slug":"inflation-forget-it","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/05\/07\/inflation-forget-it\/","title":{"rendered":"Inflation? Forget it"},"content":{"rendered":"<p>The <a href=\"https:\/\/www.ft.com\/content\/00743ec2-9e00-4a41-9252-fc39fffc8e54\" target=\"_blank\" rel=\"noopener noreferrer\">FT has reported<\/a> this morning that:<\/p>\n<blockquote><p>Europe\u2019s biggest private-sector employer Volkswagen has said it is not under pressure to raise salaries, reinforcing central bankers\u2019 forecasts that the region\u2019s economic rebound from the coronavirus pandemic is unlikely to fuel sustained inflation.<\/p><\/blockquote>\n<p>Three things. First, I suspect that VW is telling the truth. I see little reason for it to say otherwise.<\/p>\n<p>Second, there is no real sign of that wage pressure anywhere.<\/p>\n<p>Third, that means there are no reasons for persistent inflation.<\/p>\n<p>No one disputes we might get a little upkick this year. I very much doubt any policymaker will react to this in any serious way. The underlying causes of inflation do not exist.<\/p>\n<p>It is time to discuss other issues of great importance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FT has reported this morning that: Europe\u2019s biggest private-sector employer Volkswagen has said it is not under pressure to raise salaries, reinforcing central bankers\u2019<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/05\/07\/inflation-forget-it\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-56884","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/56884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=56884"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/56884\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=56884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=56884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=56884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}