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The country, after all, has been in the grip of deflationary forces for over a decade.
However, concerns will persist regarding the deflationary forces, especially in the periphery.
But in the realm of corruption, such deflationary forces are rarely seen.
For Japan, which has been battling deflationary forces for two decades, rising prices would be a welcome change.
The question is whether it will stimulate it enough to offset the deflationary forces elsewhere in the economy.
That suggests there are strong deflationary forces at work in the economy, which threaten to choke business spending.
Given the intensity of the deflationary forces buffeting the euro zone, the E.C.B. may well need to expand the size of its program.
A third round of quantitative easing, referred to as QE3, is an option if a recent economic slowdown persists and deflationary forces re-emerge, he said.
Such purchases would not accelerate inflation but "merely lessen the strength of the powerful deflationary forces" while also pushing down the euro, Mr. Carmignac wrote.
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In the medium term, high oil prices are more of a deflationary force.
In the developed world, however, higher commodity prices may act as a deflationary force, a tax that reduces the spending power of consumers.
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CEO of Professional Science Editing for Scientists @ prosciediting.com