Global deflation risk grows

Christian Science Monitor by Mark Trumbull | Nov. 20, 2008 (News Report)
October saw one of only seven monthly drops in the core Consumer Price Index since 1947

Global concern about inflation, which was widespread just a few months ago, has given way to worries about an opposite and potentially more dangerous problem: deflation. Full Story »

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4.0
 by Jack Dinkmeyer - Nov. 20, 2008

Really an informative primer about another disturbing aspect of the ever deepening recession. What got my attention was the phrase: "Consumer Price Index (CPI) took a rare nose dive, plunging by 1 percent in October, the Labor Department said Wednesday. That's the largest fall in a single month since 1938. "

The article finished with assurances that the global deflation is temporary and would probably be over by 2010. But given the state of the global auto industry, with the possibility of at least another million unemployed, a barren retail holiday season, deflation of home values, consumers pulling back on credit, etc., it's still a long way to the bottom.

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