Demand is Local, Supply is Global. As the USD strengthens, the U.S. consumer inflation rate continues to drift down. I guess it's too soon to yell deflation or pull out the Japan chart, but down is down. Meanwhile in Canada and Australia where they dig the earth, the strengthening USD is producing the opposite effect and the weakening CNY is pushing imported Chinese consumer costs up and producer prices down. More at ww.chpc.biz
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