Report: Inflation At Lowest Level In 50 Years
February 24, 2009 Consumer prices remained flat over the last 12 months, the lowest inflation rate since 1955, according to the U.S. Labor Department.
"Disinflation pressure is still intense and will stay that way for some time," says Ian Shepherdson, chief domestic economist for High Frequency Economics.
Deflation is a concern for many economists, and the Federal Reserve has warned that deflation is a bigger threat right now than inflation. Some economists believe the deflation fear is overblown. If the economy can avoid a depression, "we believe that core inflation will accelerate as activity normalizes," says Stephen Stanley, chief economist for RBS Greenwich Capital.
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Report: Inflation At Lowest Level In 50 Years
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