The 2014 Kavli Prize in Astrophysics has been awarded to Alan H. Guth, Massachusetts Institute of Technology, USA, Andrei D. Linde, Stanford University, USA, and Alexei A. Starobinsky, Landau Institute for Theoretical Physics, Russian Academy of Sciences, Russia. They receive the prize "for pioneering the theory of cosmic inflation". The theory of cosmic inflation, proposed and developed by the three prize winners, has revolutionized our thinking about the Universe. According to this theory, very soon after our universe came into existence it underwent a short-lived phase of exponential expansion. During this brief period the universe expanded by a huge factor - hence the name inflation. The consequences of this episode were momentous for the evolution of the cosmos. The field of inflation theory now occupies thousands of theorists, and many variations of inflation are being actively debated. The prize was announced on May 29, 2014 in Oslo, Norway by Nils Chr. Stenseth, President of The Norwegian Academy of Science and Letters. For more details, see "The Kavli Prize News 2014".