Something else I noticed: stores like Wal Mart, Target and Costco appear to be gaining in popularity. I believe that one of the reasons why inflation is under control is due to discount retailers such as these, who continually are aggressive on prices.
Regards, Ivan
Yes, it's true.
WalMart and these others are in a very real way responsible for the absence of inflation.
Too, just in time inventory controls, and just in time labor. These keep inflationary pressures quiescent. Low inflation means more sustainability to growth. (We don't want rapid employment growth.)
Price stability means longer recovery. Bernanke answered perfectly to the Senate committee "Yes I believe in the dual mandate..." What utter rubbish. Sustainable output growth and employment are a function of price stability. But Ben just smiled. So much for that 'Im really apolitical' stuff he's been selling.