From the Gowdie Letter (AUS) –
‘We seek him here, we seek him there,
Those Frenchies seek him everywhere.
Is he in heaven? Is he in hell?
That damned, elusive Pimpernel.’
Deflation, like the Scarlet Pimpernel, remains elusive.
Readers are seeking it here and there, but it cannot be found.
My response last week to RM’s personal experience with inflation resulted in a number of emails…all in support of RM.
Everyone who replied is facing budgetary pressures — cost of stamps are up, as are building costs; insurances are on the rise, and fruit and veggies prices are also heading up.
Inflation is what people are experiencing.
In fact, there are suggestions we may actually be in a period of stagflation — a combination of stagnation and inflation.
Stagflation occurs when inflation is high, the economic growth rate is slow, and unemployment remains high.