Inflation has been more subdued than in the 1970s what are the reasons for this and will they endure

Inflation has been more subdued than in the 1970s. What factors explain this and are they likely to endure? Inflation is a sustained increase in the general price level leading to a fall in the purchasing power of money. It is caused by two major groups of factors: The demand-pull factors, when the total demand for goods and services exceeds the total supply and the cost-push factors, when firms increase prices in order to maintain …

…exchange rate, which would affect the price level and therefore the inflation rate. Inflation is very hard to control totally as the causes of it are not easily manipulated. But at the moment the government seem to have all the factors in the right quantity as the rate is not only low but also quite steady. I believe that if there are no major shocks to the economy then inflation is set to stay low.