Wood Mackenzie forecasts annual consumer price inflation (CPI) for selected economies to the year 2065. Forecasts are updated on a quarterly basis. In the short-term, forecasts are driven by assessing cost-push and demand-pull inflation factors, including commodity prices. The stage of the business cycle and monetary and fiscal policy are also important determinants of the inflation outlook. Over the long-term, Wood Mackenzie assesses inflation targets set by central banks, if applicable, to makes a qualitative assessment based whether they are compatible with structural growth drivers and potential economic growth.