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Of all the current macroeconomic imbalances, the inflationary phenomenon is one of the most difficult to combat. In some countries, inflation was the main enemy of economic progress. The effects of this phenomenon are largely dependent on the intensity of expectations as well as on the ability to be kept under control by monetary authorities. Lately there has been a significant decline in inflation in both developed and developing countries, as well as increasing commitment of monetaryfatcat:wa3ofgmklzd4ddtkf6wbotop24