Reporter definition of deflation

Reference no: EM131023385

The following appeared in a newspaper article: "Inflation in the Lehigh Valley during the first quarter of . . . [the year] was less than half the national rate. . . . So, unlike much of the nation, the fear here is deflation-when prices sink so low the CPI drops below zero." Do you agree with the reporter's definition of deflation? Briefly explain.

Reference no: EM131023385

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