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《》 BIS
BIS Working Papers
No 1060
The burst of high inflation in
2021-22: How and why did we
get here?
by Ricardo Reis
Monetary and Economic Department
December 2022
JEL classification: ESB, ESO, E31
Keywords: Price level, central bank independence, r-staι
dove, hawk.
BIS Working Papers are written by members of the Monetary and Economic
Department of the Bank for International Settlements, and from time to time by other
economists, and are published by the Bank. The papers are on subjects of topical
inter
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