We study the dilaton action induced by RG flows between holographic CFT fixed points. For this purpose we introduce a general bulk effective theory for the goldstone boson of the broken spacetime symmetry, providing an AdS analog of the EFT of Inflation. In two dimensions, we use the effective theory to compute the dilaton action, as well as the UV and IR conformal anomalies, without further assumptions. In higher dimensions we take a 'slow-flow' limit analogous to the assumption of slow-roll in Inflation, and in this context we obtain the dilaton action, focusing on terms proportional to the difference of the A-type anomalies. We include Gauss-Bonnet terms in the gravitational action in order to verify that our method correctly differentiates between A-type and other anomalies.