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- Title
ON INFLATION.
- Authors
Mohr, Philiph
- Abstract
There is currently much more common sense in the South African inflation debate than a few decades ago. In particular, the South African Reserve Bank exhibits a pragmatic, eclectic approach to inflation (as reflected in its bi-annual Monetary Policy Reports). This is in stark contrast to the narrow, monetarist-type thinking that tended to dominate during the 1980s. This paper is an attempt to contribute to the debate by highlighting a few issues, including the widespread substitution of the CPI by the CPIX, the fact that inflation is a process, the need to combat inflation, the causes of the decline in inflation in South Africa and the essential features of an inflation-targeting framework for monetary policy.
- Subjects
SOUTH Africa; PRICE inflation; PUBLIC spending; ECONOMIC policy; MONEY supply; MONETARY policy; COST accounting; MONEY; SOUTH African Reserve Bank
- Publication
South African Journal of Economics, 2008, Vol 76, Issue 1, p1
- ISSN
0038-2280
- Publication type
Article
- DOI
10.1111/j.1813-6982.2008.00158.x