Inflation: friend or foe?

Is inflation still public enemy number one? For most of us it simply means price rises, but is there a positive side to this one-time economic bogeyman? Plus with the help of our resident comedian,Colm O'Regan, we go in search of economic nirvana. Is there's such a thing as a perfect economy, or is it just the stuff of fairytales? Manuela Saragosa's guests are Mohamed El Erian, CEO of the global investment company PIMCO; Jeffrey Frankel, Harvard professor in International Finance and Macroeconomics and previously a member of President Clinton's Council of Economic Advisers; and Brigitte Granville, Professor of International Economics and Economic Policy at Queen Mary, University of London.

(Image: A hand counts small piles of coins, Credit: Getty Images)