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Deflation in Greece!? What do they (not) know?

Monastiriotis, Vassilis (2012) Deflation in Greece!? What do they (not) know? LSE Greece@LSE (26 Feb 2012). Blog.

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Abstract

The latest Interim Forecast by the European Commission makes some gloomy predictions for the Greek economy in 2012 but, interestingly, on the issue of inflation it states: Constant-tax inflation in 2011 was 1.2% in 2011. However, for an economy in deep recession, the inflation rate reveals deep inflexibility in product and services markets. In 2012 the price rise trend is expected to be reversed, resulting in slight deflation of 0.5%. The main driving force stems from anticipated falls in disposable income and consumer spending due to wage cuts in the private sector.

Item Type: Website (Blog)
Official URL: http://blogs.lse.ac.uk/greeceatlse/
Additional Information: © 2012 The Author(s)
Divisions: European Institute
Spatial Economics Research Centre
Hellenic Observatory
LSEE - Research on South Eastern Europe
Subjects: H Social Sciences > HB Economic Theory
J Political Science > JC Political theory
J Political Science > JN Political institutions (Europe)
Sets: Departments > European Institute
Research centres and groups > Spatial Economics Research Centre
Research centres and groups > Hellenic Observatory
Research centres and groups > LSEE Research on South Eastern Europe
Collections > Greece@LSE Blog
Date Deposited: 01 Jun 2017 07:54
Last Modified: 01 Jun 2017 07:54
URI: http://eprints.lse.ac.uk/id/eprint/79439

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