More important, however, current inflation rates matter far less to monetary-policy makers than does expected inflation.
Analysis of the current inflation problem in Argentina by Chief Economist of Standard Chartered Bank, Doug Smith.
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Only downward surprises on current inflation and activity could pave the way for another cut in the Selic rate.
International differences in current inflation rates, however, explain less than you might think.
More importantly, the country's defence budget for 2013-14 has moderately increased by 4.5%, which is below the current inflation rate.
He noted that most measures of current inflation remain low, and he saw few signs of inflation in the pipeline.
The inflation-adjusted rate which is set by a formula that measures inflation over defined consecutive six-month periods (the current inflation adjustment is 4.6%).
The Item Club also says that the government's choices include sticking to the current inflation target of 2% - which could mean no more interest rate cuts for some time, and therefore lower economic growth.
Speaking at the meeting of the London Assembly, Mr Livingstone said the increase was well below the current RPI inflation rate of 4.2%.
As a result, very little, if any, excess liquidity spilled over into imprudent hands as indicated by the current low inflation and low capacity utilization.
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For example, the current reported inflation rate is only 1.6% (compared to a long-term average of about 3%), but this rate is depressed due to the 40% weight in the Consumer Price Index from housing.
The current monetary inflation that is the Bernanke boom-bust-to-be is already multiples larger than the monetary inflation that produced the tech bust and, at this point in the boom-bust cycle, even larger than the inflationary surge that gave us the housing bust turn Great Recession.
Supported by a QE II asset purchase program still alive and kicking through the end of June, we estimate that this, our current monetary inflation cycle, will show a cumulative monetary infusion of about 37% by the time QE II is over, 77% the size of the last inflation cycle .
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But he said the current policy of inflation targeting had been the most successful.
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They are also the reason why the current bout of inflation differs from that of previous decades.
Nominal rates would have to rise up to about 6.5% for the trade-off to make sense, given current levels of inflation.
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That said, the Bank of England's current expectation that inflation will fall and stay low may turn out to be right.
That is slightly higher than the current rate of inflation, meaning that workers are earning more even when higher prices are taken into account.
This 1.8% rise is slightly lower than the typical rise in earnings and the current rate of inflation, which represents the rising cost of living.
The dividend yield on the index (dividends divided by the stock price) is just 2.1% a fraction of historic averages, and barely enough to keep pace with current, subdued inflation.
Martin Weale took the gloomier road in a speech last night, explaining why he thought interest rates should go up, even if the Bank is right in its current forecasts for inflation.
Then, excess demand resulted in higher inflation, huge current-account deficits and rampant asset-price inflation.
Current measures to control inflation are too mild and thus may actually fan the fires of inflation.
Shadow business secretary Ken Clarke said public sector pay had to reflect "the current low level of inflation".
As a result, current yields and future inflation-adjusted returns on government bonds fall.
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It also neatly fits in with the current climate of degree inflation.
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Given the current low readings on inflation and the lack of significant GDP growth, a rational case can be made for additional stimulus measures.
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