The US last week showed its first signs of deflation for 55 years, prompting inevitable fears of further deflation in the future. Yet the primary reason for the negative rate of US inflation is the dramatic 30 per cent fall of commodity prices. That will not happen again. Moreover, excluding food and energy, consumer prices are up 1.8 per cent from a year ago. That is the good news: the outlook for the longer term is more ominous.
上周，美国55年来首次出现了通缩的迹象，使人们不可避免地担忧未来会面临进一步的通缩。然而，美国出现负通胀的主要原因是大宗商品价格暴跌30%，这种情况将不会再次出现。此外，不包括食品和能源在内的消费者价格指数同比上升1.8%。这是一个好消息：更长期的前景更为不利。
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