Looking at the rates of change in consumer prices for all items in July, they were negative in all G-7 countries but for the United Kingdom – for example, minus 2.2 percent in Japan, minus 2.1 percent in the United States, and minus 0.7 percent in Germany.
In the midst of heightening pressure stemming from capital outflows and strong depreciation, natural suppliers of dollars (exporters) have been on the sidelines which contributed to the low market volume. 7. The widespread ramifications of global factors to our economy should serve as an important “wake up call”.