Krugman: Japan, here we come ...

Paul Krugman says alternative core inflation measures, like "trimmed-mean and median inflation," are getting increasing attention. Core measures like these measure inflation "inertia," and provide a view into inflation expectations over the longer term, he says.

"What these measures show is an ongoing process of disinflation that could, in not too long, turn into outright deflation," Krugman writes.

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