The objective of this paper is to examine the relationship between the Consumer Price Index CPI and fiscal and monetary variables in Jordan. This issue has political and economic importance for Jordan given the high levels of deficit and prices over the past decades. this paper tries to model the relationship between variables using the Autoregressive Distributed Lag ARDL, and Error Correction Model (ECM) technique to examine the existence of a long and short-run relationship between CPI and the explanatory variables which are the budget deficit, money supply, GDP, and imports.