Assessing the Impact of Anti-Inflationary Instruments on Price Stability

Abstract

The article analyzes the peculiarities of theoretical-methodological and scientific-applied aspects of the formation of anti-inflationary policy as a component of economic stabilization in the current conditions of economic development. The results of the study show that the category of «anti-inflationary policy» most often appears in the context of the following categories: inflation, politics, governmental regulation, macroeconomic stability and macroeconomic policy. As a result of the decomposition of scientific and methodological approaches to the definition of anti-inflationary policy as an economic category, anti-inflationary policy is considered as a form of macroeconomic policy functionally aimed at regulating inflationary processes. Since achieving economic growth has economic stability at its foundation, anti-inflationary policies should be seen as an integral element of sustainable progress towards transformation, i.e. anti-inflationary policy is a stabilization measure at the macroeconomic level. A retrospective analysis of instruments for achieving price stability shows that the most common and efficient instrument for regulating the exchange rate are currency interventions. Regarding the regulation of consumer prices, it is possible to note the systematic use of currency exchange rate support instruments, a balanced change in prices for tariffs and services which is regulated by the administration.

Keywords

• inflation
• anti-inflationary policy
• anti-inflationary instruments
• economic stabilization
• governmental regulation
• macroeconomic instability.