How do we deal with deflation?
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Title : How do we deal with deflation?
Category : Malaysians
It looks very much like deflation is becoming the new normal for many Asian countries during the ongoing recession brought by the Covid-19 pandemic. The Malaysian consumer price index (CPI) figures for May showed prices falling by 2.9% year-on-year for the second month running. Thailand, Taiwan, South Korea and Singapore are also in deflation with consumer prices falling year-on-year by 3.4%, 1.2%, 0.3% and 0.8% respectively. Wider deflation indicators are also emerging. Producer prices fell in Malaysia by 5.1% in April and by 2.7% in Japan and 3.7% in China during May. Wholesale prices in May fell by 11.6% in Taiwan and 3.2% in India. So it appears that there is an underlying deflationary trend across a large part of Asia, taking consumer, producer and commodity prices together. These are unusual economic conditions and raise questions about the risks of deflation and the type o…
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