"In a January 2021 letter, REITland vet David Shulman, Senior Economist Emeritus for the UCLA Ziman Center for Real Estate and the UCLA Anderson Forecast, writes that asset-price
inflation could trigger an increase in consumer price inflation, from its current low levels.
Shulman writes: 'The cover story of the December 12-18th edition of The Economist was headlined, 'Will Inflation Return?' The article discussed the recent history of why consumer price inflation, running at a low year-over-year rate of 1.2% as of November, has been so quiescent. However, there is another type of inflation that has been soaring. I am speaking of asset price inflation which is showing up practically everywhere.'"
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