secular inflation

Secular inflation is an economic term used to describe a prolonged period of gentle or mild price increases.

A final cause of secular inflation is consumption behavior, especially when people live beyond their means as a result of the Duessenberry effect.

Instead, Mr. Paulsen says that we are likely to encounter cyclical inflation, not secular inflation, as occurred in the 1970's.

Although most commonly used to describe a mild inflation rate, secular inflation can be used to describe most inflation rates that are spread over long periods of time.

Friedrich-Karl Lage, the economist credited with coining the term "secular inflation", described three causes for secular inflation.

David Hackett Fischer, in his study 'The Great Wave', questioned the implicit basis of monetarism by examining long periods of secular inflation that stretched over decades.

Other factors contributing to secular inflation are production and distribution, as costs of production and investments that take a long time to mature prolong rising prices and inflation rates.

Because of the reversal of the secular trend of European price levels around 1670 (secular inflation turning into deflation) and the downward-stickiness of nominal wages, Dutch real wages (already high in boom times) became prohibitively high for the Dutch export industries, making Dutch industrial products uncompetitive.