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Inflation and Deflation

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“We are seeing inflation in things we need and deflation in things we want,” Todd Harrison wrote on his popular website Minyanville.

For example, we all need food to stay alive. Yet anyone who has visited a supermarket recently will know that the price of food has risen. Flour, sugar, coffee and cocoa, among other items, have all become more expensive.

At the same time, television sets, mobile phones, laptop computers and several other modern goods have all come down in price.