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Consumer prices in Japan fell again in May, according to that country’s Ministry of Finance.
These miniscule inflation figures aren’t just typical for Japan, they are just as consistent with those for consumer price conditions around much of the rest of the developed world.
Does the world converge with US inflation rates, feeding a more realistic potential for recovery if not overheating? Or does America’s artificiality fall away leaving it exposed to falling back in line with the rest of the world?