If everyone's so worried about inflation, why do central banks favour it over deflation?

The Fed's preferred measure of inflation, Personal Consumption Expenditures, has been running at an annual rate of 5.5%, which is well above the target

ank of England policymaker Catherine Mann recently stated that by capping energy prices, consumers can redirect their spending towards other products, potentially leading to higher inflation in these areas

According to the Bank of England's monthly survey of corporate decision-makers, business leaders in the UK expect to see an acceleration in inflation and wage growth in the coming years

The Federal Reserve is shedding more light on its concerns about strong inflation lingering in the economy.