Since 2000, the relationship between money supply and inflation has weakened in advanced economies. From 1980 to 2000, an average annual money supply growth of 7.3% coincided with 4.1% inflation and 3.0% economic growth. However, between 2000 and 2023, despite an annual average money supply growth of 5.8%, inflation stood only at 2.1%, with accompanying economic growth at 1.7%. These contrasting figures indicate a notable divergence in the impact of money supply growth on inflation during this period.
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