A falling overall price level
, by and of itself, is not necessarily a bad thing.
The price level
elasticity of aggregate demand is a concept which has been overlooked in both macroeconomic textbooks (3) and the research literature (4) but is a relevant influence for the balance of trade and changes in the size of the trade deficit or surplus.
Denmark (140% of the EU average) had the highest price level
, followed by Sweden (130%), Luxembourg and Finland (both123%).
The latter requires a commitment to offset the effects of unexpected inflation on the price level
and makes monetary policy history-dependent.
i], which implies house prices in region i will converge to the benchmark price level
in a long run perspective.
The issuing price is lower than the average price level
of local Chinese banks, as well as the Branch s price level
of inter-bank borrowing over the same tenor.
The city of Istanbul had the highest price level
The report said that in 2012, the price level
of a comparable basket of food and non-alcoholic beverages was more than twice as high in the most expensive EU27 Member State than in the cheapest one.
A sustained and rapid rise in housing prices over successive quarters remains an area of concern from the standpoint of their possible spillover to demand pressures and the general price level
as well as financial stability.
If prices start rising faster than a prespecified rate, policymakers must lower inflation in the future to get the price level
back to the target.
Aten, economist at the Bureau of Economic Analysis (BEA), has calculated estimates of experimental price deflators for 2005 that may be used to adjust price level
differences across 363 metropolitan areas and across all states and the District of Columbia.
that of oil, sugar, or copper), in practice it is greatly simplifying to use a general price level
as the unit of analysis--either the GDP deflator, a general index of the prices of all the goods and services produced in the economy, or the consumer price index, a general index of the prices of all the goods and services consumed in the economy.