Why is Inflation so Low?

8 Pages Posted: 7 Apr 2005

See all articles by Richard Lambert

Richard Lambert

Bank of England - Monetary Policy Committee


In this speech, Richard Lambert, member of the Bank's Monetary Policy Committee, discusses factors that influence the outlook for inflation. He argues that the low rate of price inflation is not just a UK phenomenon, and reflects structural factors such as globalisation, new technology, deregulation and changes in the labour market. He concludes that inflation overall remains low and stable despite swings in the prices of individual goods and services, although its likely future path is uncertain.

Suggested Citation

Lambert, Richard, Why is Inflation so Low?. Bank of England Quarterly Bulletin, Winter 2004, Available at SSRN: https://ssrn.com/abstract=699261

Richard Lambert (Contact Author)

Bank of England - Monetary Policy Committee ( email )

Threadneedle Street
London EC2R 8AH
United Kingdom