excess-demand inflation

基本解释

Inflation is only 1.4% and China has a widening current-account surplus, which implies excess supply rather than excess demand.
通胀率只是1.4%。扩大的经常项目盈余暗示着超额生产而不是超额需求。
Inflation is only 1.4% and China has a widening current-account surplus, which implies excess supply rather than excess demand. Nor do asset price gains look particularly excessive.
通胀率仅为1.4%，经常账户盈余不断扩大，这意味着供给过剩而非需求过度。

One more reason not to lose sleep over the surge in oil prices is that, unlike the rises in the 1970s, it has not occurred against the backdrop of general commodity-price inflation and global excess demand.
ECONOMIST: Oil’s pleasant surprise
Then, excess demand resulted in higher inflation, huge current-account deficits and rampant asset-price inflation.
ECONOMIST: China's economy
As stockmarkets rally on a belief that the central bank has acted pre-emptively and quashed any prospect of inflation, looser financial conditions could fuel the very excess demand that the Fed is trying to reign in.
ECONOMIST: Monetary policy isn’t getting any easier