Dovish views on inflation are abundant but the arguments being made are unconvincing
One of the more complex concepts in economics is inflation, even though it simply refers to an increase in prices. When we say inflation has come down from, say, 6% to 2%, it means the rate of change of prices has come down. But prices are still going up. If prices fell across the board, it would reduce the incentive of producers to produce goods and services.
