The Wall Street Journal’s Real Time Economics blog recently posted a piece showing that over the past 240 years, the rate of inflation has been much higher and, surprisingly much lower than it is today.
From the U.S. Revolutionary War to World War II, inflation swung around much more dramatically than it does today. Especially in periods of war, prices would surge, to be followed by long periods of deflation. Over long periods of time, these dramatic swings tended to balance out, but it was a far cry from what anyone today would likely consider “price stability.”
Click here to read the full story on the WSJ’s Real Time Economics blog
