Does 3.0 Percent Inflation Cast a Shadow Over Blair's Economic Record?

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That's what the NYT told readers. I am sure there are good grounds for criticizing Tony Blair's economic record. It looks to me like the country has a serious housing bubble, the deflation of which could be very bad news for his successor and the country. But, I can't imagine anyone who doesn't have a high paying job in the financial sector getting worried about inflation that is running at a 3.0 percent annual rate (actually considerably lower in the last quarter).

--Dean Baker

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