People of a certain age, who lived through surging prices in the 1970s, have their mindsets anchored by that period; the same goes for those of any age who have lived with hyper-inflation. But the reverse, deflation, is just as difficult to navigate and maps or methods are few and far between. Earlier this month we warned of falling factory gate prices in China. Today it’s Switzerland’s turn, where in August producer and import prices fell 0.2 per cent taking the annualised rate of decline from 1.7 per cent in July to minus 1.9 per cent last month.
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