How can inflation be brought under control?

Bringing inflation under control often involves managing the money supply in the economy. When the money supply increases faster than the economy's ability to produce goods and services, inflation typically rises because there are more currency units available to chase the same amount of goods. By reducing the rate of growth of the money supply, authorities can help ensure that the increase in money does not outpace economic growth, thus putting downward pressure on inflation. This careful management helps stabilize the purchasing power of the currency over time.

This approach aligns with standard economic principles, where controlling the growth of money supply is a fundamental method for central banks. Other strategies may include adjusting interest rates and government spending, but those often supports different economic outcomes that can sometimes lead to inflation rather than controlling it directly.