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Price deflation, as one reader pointed out to me, is really just part two of an earlier piece written in this same space about the lack of marketing and advertising support for home furnishings products.
The Bank of Japan adopted its policy of quantitative easing in March 2001 to convince markets that it would end price deflation and to boost depositors' confidence in the financially distressed banking sector.
The average rate of price deflation between 1929 and 1933 was 6.
Discounting in clothing and footwear has been "particularly evident" the BRC said, with price deflation recorded above 10 per cent in the last two consecutive months.
Mark Newton-Jones, chief executive of Shop Direct, said: "We've seen a decade of price deflation on the high street.
There has been price deflation on food of about 8%," added O'Riordan.
Dean Mirfin, Key Retirement Solutions group director, said: "The past year proved tough for all financial service sectors, however the results for the equity release market show that demand is still strong despite a year of house price deflation and understandably issues of confidence amongst consumers.
RICS Northern Ireland housing spokesman Tom McClelland said: "While the balance of chartered surveyors reporting price deflation in the rest of the UK has taken a turn for the worse the survey reports that price falls in Northern Ireland, although still significant, have been easing back.
Annual house price deflation this year looks set to be around four per cent.
There was a 7pc fall in like-for-like sales at PC World, because of continued price deflation in the computer hardware market.
Operating income for the year was "substantially lower" because of the price deflation, particularly at the low end.
Each of the other segments experienced moderate price deflation since the last quarter -- with the swine market experiencing the widest spread price deflation.