Last week, figures released by the Central Statistics Office indicated that Ireland had entered a period of deflation – the aggregate price of goods and services in the country had fallen (not food though as the National Consumer Agency didn’t really tell us).
So, yesterday, as I’m signed up to the RSS feed for the RTE Consumer news updates, there were three updates to this article published – the current version is here.
At 12.30, the headline was as follows:
Negative Inflation Rate for January
Then, at 17:30, the headline was changed (but the story remained the same) to:
Deflation hits econony: 1st time in 49 years
And finally, at about 21:30 last night, the headline was again changed, but back to the original:
First Annual Negative Inflation in 49 years
Deflation isn’t a dirty word, it’s just an unfortunate fact of life in Ireland at the moment.