World import and export prices finished 2014 with the largest year-over-year decline since 2009 according to the CPB world trade monitor. Export prices declined by 9.2% YoY% and import prices declined by 8.8%. No area in the world escaped the deflation in trade prices as...
Looking out of our office and seeing signs of construction activity across Denver, it can be hard to imagine that 20% of the cities in the S&P Case-Shiller Home Price Index are still at least 30% off its all-time high....
We began opining on the deflationary impacts of Currency Wars back in January and some of those postulations are now coming to fruition – the latest being that the South Korean CPI today hit a level not seen since the aftermath of the Asian financial crisis....
In the below charts we take the average YoY% change in consumer prices for 33 countries around the world. What we see is a trend of disinflation that started in mid-2011 and continued through September....
US import prices ex-petroleum fell further on a year-over-year basis. This series has now been negative since March. The movements in the USD do not suggest this deflationary pulse from import prices will be abating over the next few months....
