The Portuguese inflationary processus

Abstract

This work is determined by the main conclusion of a previous study by the same author published in Análise Social nº. 63),  «Explaining theories on inflation: a critical survey», according to which inflation would correspond to a structural manifestation of the present conditions of the reproduction of capitalism, acting in a different at worldly scale, according to a hierarchy mainly determined by the degree of economic development in different countries. Sustaining that the Portuguese inflation is particularly well in compliance with such a structural determination, the author searches specific factors brought into action in the Portuguese inflationary processus and fit to lend an additional support to that explanation: a specially high budgetary deficit (anyway of a questionable inflationary incidence, if one takes into consideration the difficulty in acknowledging an excess of demand in Portugal); a too high weight of the indirect taxes upon the tributary charge (something that also happens in the most part of the countries with strong inflationary processi). After dealing with anti-inflationary theories the author ends the article sustaining that the economic development would be the only means of changing the relative position of Portugal in the worldly inflationary processus.