Page "Inflation" Paragraph 3

Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply.

Views on which factors determine low to moderate rates of inflation are more varied.

Low or moderate inflation may be attributed to fluctuations in real demand for goods and services, or changes in available supplies such as during scarcities, as well as to growth in the money supply.

However, the consensus view is that a long sustained period of inflation is caused by money supply growing faster than the rate of economic growth.