Never mind that there is nothing close to a sustained run of negative consumer price indices anywhere in the world. The recent modest abatement of what has been 45 years of relentless consumer price inflation throughout the DM economies can be readily explained by short-term oil and commodity price movements and exchange rate fluctuations. Indeed, the money printers are always gumming about inflation-ex food and energy— so here it is.
The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.
Courtesy David Stockman's Contra Corner
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