Inflation is still a major problem

If you look at UK inflation over the last few centuries, you are immediately struck by the change that occurred after 1945. Until then, inflation took place mainly during major wars and then periods of deflation followed where prices largely came back down. So, why did that not happen after 1945 and what implications does that have for us today?

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Source: http://www.iea.org.uk/blog/inflation-is-still-a-major-problem

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