The article updates the problem of maintaining inflation at a consistently low level. The subjects of management of this process have been identified. The study provides price formation mechanisms using the example of the construction industry. The dynamics of the cost of basic materials used in construction is presented and described. Using these examples from the construction industry, the main drivers of local inflation are identified. The concept of “cost-push inflation scissors” is considered. Some features and prerequisites for inflation and its impact on the economic security of the country's macroeconomic system have been identified. The meaning of effective demand and its role in ensuring the economic security of the macroeconomic system of the state is clarified. The mechanism of inflation targeting is described. Conclusions are drawn about possible scenarios for combating inflation and opportunities to minimize the consequences of its impact. The mechanisms and factors influencing demand and inflation are analyzed: quantitative easing, current accounts. An assessment of the issue of means of payment by the Federal Reserve System is given.