Inflation
Sir,—Sir Keith Holyoake speaks of inflation In the "Communist block.” I don’t know where he gets his statistics from; but Turner and Jackson in the “Economic Journal" of December, 1970, found that four countries for which reliable price statistics were available—Bulgaria, German Democratic Republic, Hungary, and Poland—showed an average rise in prices for the period 1956-65 of 0.6 per cent, compared with an average rise of 3 per cent in advanced market economies and 5.3 per cent in 35 less
developed economies. Jugoslavia has been excluded from the "Communist bloc” since that country is on a course of “peaceful transition to capitalism.” The U.S.S.R. and China have also been excluded because of absence of reliable statistics. There is no dbuht, however, that pronounced .price inflation Th. these two countries is absent—Yours, etc., ECONOMIST. March 20, 1971.
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Press, Volume CXI, Issue 32561, 22 March 1971, Page 14
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137Inflation Press, Volume CXI, Issue 32561, 22 March 1971, Page 14
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