The book is supported by the Russian Academy of Sciences Program of fundamental research «The Imbalances of the Modern World Order and Russia» (project «The Economic and Social Disparities in the Regions of the Modern World»). Conceptual issues of governing inflation are studied in the first part of the book. Then investigated are the pivotal aspects of interrelationship between price dynamics and imbalances of the reproduction process, such as economic growth and inflation, structural causes of inflation, current price trends on the world commodity markets, export and import of inflation into open economies, etc. The country-specific inflation process as well as government policy impact on prices are analyzed for selected countries and regions. The United States, European countries, China, Japan, India, South Korea, Argentina, Sub-Saharan Africa, the Middle East and North Africa are taken as case studies. The book is concluded with a study of the origins of inflation in the Russian economy.