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Link Between Inflation & Output Gap

The output gap is the highest since the 1970s suggesting that inflation should be significantly increasing in the coming years. However, can the two indicators both be correct, with there being subdued inflation as measured currently and with the economy above its potential?

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[index]
[523.251,1046.50]
[523.251,1046.50]
[523.251,1046.50]
[523.251,1046.50]