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Discuss the claim that inflation is a Monetary phenomenon Phenomenon: Remarkable person or thing Inflation is naturally related to the monetary side of the economy, this cannot be disputed as inflation deals directly with the money in the economy. However whether it is a Monetary 'phenomenon' is another matter altogether. In this essay I intend to prove that it is a monetary phenomenon that nobody can control, and it rules itself. To do this I will analyse the methods, which the British government has tried to use to control inflation. Inflation (or at least the control of it) is regarded as high priority by the British government, particularly as they compare the British economy with other advanced industrial countries, such as Japan. The measurement of Inflation can be measured in a variety of ways. The Most Common and the one that I will refer to in this essay is the Retail Price Index...

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