Not unambiguously good for Japan, in other words, but inflation may not be unambiguously bad either.
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But inflation is of little benefit in markets with high vacancy rates, for example.
The fundamentals these experts cite are valid, but inflation is a monetary phenomenon, period.
But inflation is now an issue and hot money is part of that issue.
The economy is now growing fast, but inflation is high and the foundations are fragile.
But inflation, which was a huge problem in those days, was cut by two-thirds.
But inflation will tumble in the coming months because of lower oil prices and the recession.
Any stimulus if applied well can give a temporary boost, but inflation invariably exacerbates longer term complications.
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Over the past 12 months, average weekly earnings are up 2.1% but inflation has climbed by 3%.
He makes the point that the Fed response to inflation is linear, but inflation is a non-linear event.
But inflation is supposed to be well under control now and might even drop below 5% this year.
But inflation also throws sand into the economic gears by distorting price signals and causing a misallocation of resources.
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For instance, if Treasury bonds yield 2% a year, but inflation is 3%, then the real rate is negative 1%.
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But inflation eased at the fuel pumps as petrol prices rose by 2.2p a litre against 3.3p a litre a year earlier.
The Labour government in power in the mid-1970s had tried to spend to stimulate the economy, but inflation soared to nearly 25%.
Perhaps the main risk now facing emerging Asia is not feeble demand in the West but inflation or asset-price bubbles at home.
The government caps interest rates, but inflation is running at over 30%.
Not only is money growth moderate, but inflation is falling as well.
But inflation should then drop back, as the contribution from retail energy prices wanes and the margin of spare capacity in the economy increases.
But inflation subsided, and in 1997 the nominal capital gains exaction was cut from 28% to 20%, and cut again in 2003 to 15%.
Fair enough, but inflation is easier to put right than deflation.
Inflation-linked bonds also look attractive as monetary policy is kept loose but inflation grinds higher (in this case they favor Brazil, Turkey and Poland sovereign debt).
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But inflation won't come without a similar rise in interest rates and yields, which means that bond prices, which move in the opposite direction, should eventually fall.
The bank hinted in a recent report that it was unable to cut interest rates further, despite pressure to boost the country's economy, as growth slows but inflation remains high.
If an investor is generating a 3% return in their money market account, but inflation is humming along at 4%, the investor is essentially losing purchasing power each year.
But inflation is harder to create than you think.
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In the housing downswing that plagued the U.S. in the early 1990s, home values fell in real terms, but inflation rates ran between 3% and 5%, which helped camouflage the modest retreat.
The most recent recession did see larger losses in real GDP (5.4% vs. 1.5%) and total employment (4.2% vs. 1.9%), but inflation was much worse at the start of the 1981 downturn (13.2% vs. 3.6%).
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