World economy has been facing increasing inflation pressure since 2006，which is the first round of inflation in the era of the new wave of globalization. Theoretically，globalization helps to ease inflation. However，as the large developing countries such as China and India integrate into the world economy，there will be an increasing gap between core inflation and headline inflation. Moreover，global excess liquidity has been pushing up global inflation rate. This paper analyzes the roots of current global inflation from the aspects of both real economy and monetary economy，and predicts its trend in the foreseeable future which is full of uncertainties. Whether central banks of developed countries adjust their monetary policy in response to uncertain development of global inflation is of vital importance to world economy.