Price stability · 价格稳定
| English | 中文 | Pinyin · 拼音 |
|---|---|---|
| inflation/ɪnˈfleɪʃn/ | 通货膨胀 | tōng huò péng zhàng |
| Consumer Price Index/kənˈsuːmə praɪs ˈɪndeks/ | 消费者价格指数 | xiāo fèi zhě jià gé zhǐ shù |
| demand-pull/dɪˈmænd pʊl/ | 需求拉动 | xū qiú lā dòng |
| cost-push/kɒst pʊʃ/ | 成本推动 | chéng běn tuī dòng |
| deflation/diːˈfleɪʃn/ | 通货紧缩 | tōng huò jǐn suō |
| disinflation/ˌdɪsɪnˈfleɪʃn/ | 反通货膨胀 | fǎn tōng huò péng zhàng |
When money loses its value
- A loaf cost a few pennies a century ago. The slow, relentless rise in prices is inflation 通货膨胀 — and controlling it is a central bank's main job.
- Too much is damaging; so, surprisingly, is falling prices.
当货币失去其价值时
- 一个世纪前一个面包要几便士。价格缓慢而无情的上升是通货膨胀(inflation)——控制它是一家中央银行的主要工作。
- 太多是有害的;所以,令人惊讶的是,下降的价格也是。
The CPI rises from 100 to 103 over a year. What is the inflation rate (%)? · CPI 在一年内从 100 上升到 103。通货膨胀率(%)是多少?
(3 / 100) × 100 = 3%. · (3 / 100) × 100 = 3%。
Measuring inflation
- Inflation is a sustained rise in the general price level; the rate is measured by the Consumer Price Index 消费者价格指数 (CPI) — the price of a representative "basket" of goods.
Worked example. The CPI rises from 100 to 103 over a year. Inflation = (3 ÷ 100) × 100 = 3%.
Inflation is measured from the price of a basket of everyday goods like these
测量通货膨胀
- 通货膨胀是一般价格水平的持续上升;该速率由消费者价格指数(Consumer Price Index,CPI)测量——一个代表性"篮子"商品的价格。
例题。 CPI 在一年内从 100 上升到 103。通货膨胀 =(3 ÷ 100)× 100 = 3%。
通货膨胀从一篮子像这些一样的日常商品的价格测量
Aggregate demand and supply · 总需求与总供给
The overall price level sits where aggregate demand meets aggregate supply — a shock to either moves prices and output. · 总体价格水平位于总需求与总供给相遇之处——任何一方受到冲击都会改变价格和产出。
Inflation caused by excess aggregate demand is called: · 由过度总需求造成的通货膨胀被称为:
Demand-pull: too much demand chasing too few goods. · 需求拉动:太多需求追逐太少商品。
Match each inflation type to its cause. · 把每种通货膨胀类型与它的原因配对。
Demand-pull is demand-side; cost-push is supply-side (costs). · 需求拉动是需求侧;成本推动是供给侧(成本)。
Demand-pull 需求拉动 vs cost-push 成本推动
- Demand-pull: too much AD chasing too few goods ("too much money chasing too few goods").
- Cost-push: rising costs (wages, raw materials, import prices) push prices up even without extra demand.
需求拉动对成本推动
- 需求拉动(demand-pull):太多 AD 追逐太少商品("太多钱追逐太少商品")。
- 成本推动(cost-push):上升的成本(工资、原材料、进口价格)即使没有额外需求也把价格推高。
Deflation means the general price level is actually falling. · 通货紧缩意味着一般价格水平实际在下降。
Deflation = negative inflation; disinflation is just a slowing of positive inflation. · 通货紧缩 = 负通货膨胀;反通货膨胀只是正通货膨胀的放缓。
Central banks usually target low, stable, positive inflation of around ______ percent. · 中央银行通常瞄准约______百分比的低、稳定、正的通货膨胀。
A common target is about 2% — low and stable, not zero (to avoid deflation). · 一个常见的目标是约 2%——低且稳定,不是零(以避免通货紧缩)。
Deflation 通货紧缩 and its dangers
- Deflation (falling prices) sounds good but can be worse: people delay spending (waiting for lower prices), debts grow heavier, and the economy can stall.
- Central banks therefore target low, stable, positive inflation (often around 2%).
A falling inflation rate is not deflation. Disinflation 反通货膨胀 = inflation slowing (prices still rising, just slower). Deflation = the price level actually falling (negative inflation).
通货紧缩及其危险
- 通货紧缩(deflation,价格下降)听起来不错,但能更糟:人们推迟支出(等待更低的价格),债务变得更沉重,经济能停滞。
- 因此中央银行瞄准低、稳定、正的通货膨胀(常常约 2%)。
一个下降的通货膨胀率不是通货紧缩。 反通货膨胀(disinflation)= 通货膨胀放缓(价格仍在上升,只是更慢)。通货紧缩(deflation)= 价格水平实际下降(负通货膨胀)。
You've got it
- inflation = sustained rise in the price level, measured by the CPI
- demand-pull (excess AD) vs cost-push (rising costs)
- deflation (falling prices) is dangerous; banks target low, stable, positive inflation (~2%)
你掌握了
- 通货膨胀 = 价格水平的持续上升,由 CPI 测量
- 需求拉动(过度 AD)对成本推动(上升的成本)
- 通货紧缩(价格下降)是危险的;银行瞄准低、稳定、正的通货膨胀(~2%)