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Commentary No. 3 Economics Deflation fears over US price dip BBC NEWS www.newsvote.bbc.co.uk, May 15, 2003 Section 3.3-Macroeconomic models Section 3.4-Unemplyment and Inflation Wholesale prices in the US have fallen at a significant rate, and especially prices of cars, energy, cigarettes, etc. and the Fed is concerned about an upcoming unwelcome deflation. Word count: 439 The article entitled Deflation fears over US price dip talks about the fall in the "cost of energy, cars, trucks and cigarettes" since April, which is causing fear to the US Federal Reserve of an upcoming deflation (a decrease in the average level of prices of goods and services.) This deflation is due to "falling oil prices and that's due to the end of the Iraqi war." Deflation in some cases is beneficial because it increases real income (Real income in terms of particular goods or services is income...

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