Lower oil, gas and other commodity prices have helped to reduce the cost of living. Oil related transport costs also have come down. It led to lower cost of living and a lower inflation rate. With stagnant real wages, this fall in the cost of living is important for giving Western consumers more income to spend. In other words the fall in oil prices and commodity prices could lead to higher spending on other goods and services and add to real GDP. Some worried about the slide towards deflation and the fear of a ‘Japan style’ lost decade in Europe in 2015. Do you think there will be deflation?

http://www.nzherald.co.nz/world/news...ectid=11829757

Eurozone inflation falls back below target in March - World - NZ Herald ...

http://www.feedstuffs.com/news/fao-i...-decline-march

FAO index shows global food price decline in March