The Eight Unlucky Countries Facing Deflation This Year
Europe is home to all eight victims of falling prices this year, economists say
Pedestrians are reflected in the window display of a mens clothing store in Zurich, Switzerland, on Thursday, Dec. 11, 2014.
Photographer: Gianluca CollaThis article is for subscribers only.
Deflation, deflation, deflation. It was the doomsday mantra of 2014, and nowhere was it sung louder than in growth-starved Europe. As of just a few weeks ago, economists surveyed by Bloomberg News were convinced 2015 would be the first year since 2008 that no country saw annual deflation. No longer.
Following a month marked by a further collapse in oil prices, Syriza's election victory in Greece and disappointing euro-area price data, economists are back to whistling the deflation tune.