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31%! How did you do that?

1. Promote governers to mayors (each one will decrease inflation by 1%)
2. Set monthly income to zero (if you possibly can)

But with 31% you'd propably better go bankrupt which will cut inflation in half. I don't know how to do that, however.
 
You can stop inflation going up by not using any of your monthly income to print ducats. The only way to reduce it is to build governors. And, assuming you are on the up-to-date patch, going bankrupt will double inflation, not halve it. If you're not on the up-to-date patch we are not responsible for giving you bad advice :D