Posted by: Dirk | September 2, 2010

Deflationary episodes in OECD countries in the past 6 months

Here is an alphabetical list based on the OECD’s iLibrary inflation data which lists countries that experienced at least one instance of month-to-month deflation in the last half-year (no. months in deflationary territory in brackets):

  • Austria (2)
  • Belgium (3)
  • Canada (2)
  • Chile (1)
  • Czech Republic (2)
  • Denmark (3)
  • Finland (2)
  • France (2)
  • Germany (1)
  • Greece (3)
  • Iceland (2)
  • Ireland (2)
  • Italy (1)
  • Japan (4)
  • Korea (1)
  • Luxembourg (2)
  • Mexico (3)
  • Netherlands (3)
  • Norway (3)
  • Poland (1)
  • Slovak Republic (2)
  • Slovenia (1)
  • Spain (2)
  • Sweden (3)
  • Switzerland (3)
  • Turkey (3)
  • UK (1)
  • US (2)

Data for New Zealand and Australia are not available. I included +0,0 as deflationary since measurement of inflation rates is not that precise.

I am not sure whether this list says much, since behind the deflationary episodes might stand increased volatility of the price level and, perhaps more important, I don’t compare this to other episodes, so I couldn’t even claim that this would be not normal. However, at first sight it looks to me like in OECD countries deflation is more of a problem than inflation.

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