For many years, inflation was kept at low levels. The specter of inflation’s recovery immediately generated fears on the markets. The Next Generation Eu, the American stimulus plan, private savings, the rally in raw materials and possible difficulties in the supply and distribution chain all suggest an inflationary increase.Now, inflation, albeit at lower rates, is already in place. The outlook is primarily determined by the pandemic and vaccination plan, as well as by the ability of governments to incentivize economic growth and employment.Incentive policies are often linked to ESG criteria; the offer is strongly encouraged; however, to be effective, demand must also be stimulated in equal measure. In case of misalignment, inflation will soon rise. In the long term it is reasonable to expect an increase in inflation of even more than 2-3%.For companies, this is reflected both on the accounting estimates related to future prospective (business plan) and on the equity value.