Economic productivity increases, but so does the amount of units of stuff consumers want, the number of consumers demanding stuff (and the number of retired con

Economic productivity increases, but so does the amount of units of stuff consumers want, the number of consumers demanding stuff (and the number of retired consumers) and there are also real resource constraints, especially affecting energy prices. The bank's target is symmetric, but inflation was on average much higher in the decades before central banks' target became CPI inflation