Deflation: why TV is depressing the population

Many things are weighing on prices and we’re about to enter a period of deflation. The gogglebox must share some of the blame, reckons Pete Comley.

Many things are weighing on prices, and we're about to enter a period of deflation.The gogglebox must share some of the blame, reckons Pete Comley.

This year, Britain fell into deflation for the first time in 55 years. Many have dismissed this as a blip: Bank of England governor Mark Carney thinks we'll be back above the 2% target within two years. He might be right. But I suspect we won't have to wait another 55 years to see deflation again. Although central bankers are trying to fuel inflation with low interest rates and quantitative easing, they are pitted against many deflationary forces: the ongoing impact of the financial crisis, competitive devaluations, China's slowdown and the internet revolution.

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