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If inflation rates keep falling, the Bank may decide it needs to act.Dig deeper: Falling prices are a bigger worry than you might think (February 2015) Low inflation is delaying the return to normal in Britain (January 2015).
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The numbers of surveyors in London reporting falling prices slipped deeper into negative territory in June, with nearly half of surveyors in the capital reporting falls rather than rises.
Though a big jump in less than a year, this recovery follows a deep fall in prices, when a shrinking economy, deflation, rising unemployment and the SARS virus all took their toll.
Declining stock prices, falling commodity prices, and increased volatility all indicate that there may be something deeper threatening global growth.
Some countries, Britain among them, will add still gloomier scenarios to this, such as a deep fall in house prices.
They blame falling commodity prices.
So are falling property prices.
The deep fall in real estate prices has helped many families afford decent housing.
There has already been massive trailing, for example, of cuts in North Sea tax, to compensate oil companies for the deep fall in the oil price and to try to stem a collapse in investment in the region.
LIVING COSTS Japan is in deep recession, prices are falling and property values have plunged.
The price of gas is linked to the price of oil, but with a time lag; even though oil prices have recovered since the deep fall during the 2008 global financial crisis, gas prices have remained depressed.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com