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The breadth of disinflation

Author

Listed:
  • Bart Hobijn
  • Colin Gardiner

Abstract

In recent months, inflation as measured by the personal consumption expenditures price index has been trending lower. This slowdown, known as disinflation, has raised concerns that inflation might actually drop below zero and enter a period of deflation. An examination of the distribution of inflation rates across the range of goods and services that compose the index suggests that downward pressures on inflation are relatively high by historical standards.

Suggested Citation

  • Bart Hobijn & Colin Gardiner, 2010. "The breadth of disinflation," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue dec6.
  • Handle: RePEc:fip:fedfel:y:2010:i:dec6:n:2010-36
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    References listed on IDEAS

    as
    1. Bullard, James B., 2013. "Seven Faces of "The Peril"," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 613-628.
    2. repec:fip:fedgsq:y:2002:i:nov21 is not listed on IDEAS
    3. Blanchard, Olivier J, 1984. "The Lucas Critique and the Volcker Deflation," American Economic Review, American Economic Association, vol. 74(2), pages 211-215, May.
    4. Ben S. Bernanke, 2002. "Deflation: making sure "it" doesn't happen here," Speech 530, Board of Governors of the Federal Reserve System (U.S.).
    Full references (including those not matched with items on IDEAS)

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