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We often hear about inflation in the news, whether it has gone up or down, and how this impacts the price of everyday goods.
But what do economists mean by inflation, how do they measure it, and is inflation the best way of understanding the changes in the price of goods?
This week we speak with Martin O'Connell, Deputy Research Director at IFS and author of a recent paper looking at grocery prices during the pandemic, and Ian Crawford, Professor of Economics at Oxford.
Host
Paul Johnson
Paul has been the Director of the IFS since 2011. He is also currently visiting professor in the Department of Economics at University College London.
Participants
Martin O'Connell
Martin, previously Deputy Research Director, is a Research Fellow at IFS and Professor of Economics at the University of Wisconsin.
Ian Crawford
Ian is a Professorial Fellow at Nuffield College, and a Professor of Economics in the Department of Economics, University of Oxford. His main research interests are in structural empirical microeconomics (combining microeconomic theory and microeconomic data as seamlessly as possible).
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