In the search for new models I've always been partial to the inclusion of credit (marked to market) as a factor in predicting inflation, instead of just money s

In the search for new models I've always been partial to the inclusion of credit (marked to market) as a factor in predicting inflation, instead of just money supply. This at least correctly predicted low-to-no inflation post-financial-crisis despite massive increases in the money supply. http://www.economicsjunkie.com/inflation-deflation-revisited/ http://www.economicsjunkie.com/inflation-deflation-revisited... has some good explanations of why. There's also what you measure: consumer prices do not reflect increases in asset prices, and the latter have grown very quickly in the past few years (as credit has recovered).