Abstract
There are many studies on the relationship between central bank independence and inflation. Anumber of authors have come to the conclusion that there is a negative relationship between them, inwhich the independence of the central bank helps to reduce inflation. But other authors have questionedthis conclusion. This study tested the hypothesis that there is a negative statistical relationship betweenthe inflation rate and the values of the CWN and GMT indices of central bank independence, as well astheir constituent sub-indices for developed and post-Soviet countries for 2001-2020. The methods ofeconometric and correlation analysis have established the absence of a statistically significant negativeimpact of the independence of central banks, measured by the CWN and GMT indices and their subindices,on inflation in developed and post-Soviet countries, which is true throughout the entire timeinterval. Graphical analysis and then econometric analysis showed no negative relationship betweenthese indices, as well as their sub-indices, and inflation in certain years, both in developed and post-Soviet countries. Moreover, in some cases, on the contrary, their positive relationships were revealed. Atthe same time, based on quantitative estimates, it was concluded that the relationship between centralbank independence and inflation weakens as it decreases. It requires verification and confirmation in thecourse of further research.Key words: central bank independence, inflation, CWN and GMT indices, developed countries,post-Soviet countries.