Deflation Stalks the Globe

Next year may test whether a general decline in prices can snuff out growth.

It's beginning to look a lot like deflation.

Photographer: Jin Lee/Bloomberg

Crude oil trading at less than $60 a barrel for the first time in five years means lower gasoline prices and more money in consumer's pockets, right? And the knock-on effect of driving down consumer prices is great for everyone, correct? And the global economy needs all the help it can get as it drags itself out of recession, so what's not to love about lower inflation?

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