prices do reflect the effects of the settlement delay. …

inflation expectations were well above zero. Yet in 1998, consumer prices rose at the lowest rate in over a decade, and any … observers point to large decreases in petroleum prices and other primary commodity prices, rapidly falling computer prices, and … moderate declines in U.S. nonoil import prices as possible signs of deflation.> Garner argues that last year's favorable …

with price stability. Because stable prices are essential to maximum long-term economic growth and living standards, the …

goods. For example, inflation in intermediate goods prices rose from 2.6 percent annually in the first half of 1994 to 7 … less than 3 percent. Many analysts are concerned that recent increases in the prices of crude and intermediate goods may be … expected to move through the production chain, leading to increases in consumer prices. A review of basic economic theory …