In the much discussed book "The Great Demographic Reversal," economists Charles Goodhart and Manoj Pradhan argue that inflation will soon rise significantly. Handelsblatt" reports on their discussion with the former Chief Economist of the European Central Bank (ECB), Peter Praet, during an IMFS Policy Webinar.
The authors saw the declining proportion of people in work compared with an ever higher proportion of old people who consume as decisive for this development. Peter Praet also considered higher inflation possible in the discussion, but estimated the probability lower than the other two economists, as reported by Handelsblatt.
Handelsblatt: Top economists expect higher inflation - but only in the next few years