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A Change of Pace for the World Economy

Nov 10, 2016 | 09:45 GMT
By this time next year, consumers, like these holiday shoppers in New York City, might see the effects of inflation's return. Such signs as stabilizing commodities prices and a bond sell-off point to the return of increasing prices.
By this time next year, consumers, like these holiday shoppers in New York City, might see the effects of inflation's return. Such signs as stabilizing commodities prices and a bond sell-off point to the return of increasing prices.
(YANA PASKOVA/Getty Images)

Though inflation never really disappeared, particularly in emerging economies, over the past several years it has ceded center stage to deflation, the global economy's current bugbear. After the 2008 crisis, governments sprang to action, printing and spending more money to stave off a repeat of the low-growth deflationary depression that swept the global economy in the wake of the 1929 Wall Street crash....

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