(See Blinder and Rudd, 2013, for an assessment of the effect that these and other special factors – including the imposition and removal of price controls over the 1971–74 period – had on consumer price inflation in the 1970s and 1980s.)
BIS central bankers’ speeches  1  which inflation is projected to return in the long run once the effects of any shocks to the economy have fully played out.