Some Aspects of Price Inflation in Ireland. ESRI General Research Series Paper No. 40, January 1968

Geary, R. C. and Pratschke, J. L. (1968) Some Aspects of Price Inflation in Ireland. ESRI General Research Series Paper No. 40, January 1968. UNSPECIFIED.

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Abstract

In every country prices have risen sUbstantiaUy since the end of the war. In Ireland, as in six other European countries, consumer prices had almost doubled between 1948 and 1965--see Table 2. Is this situation of continuously rising prices in the indefinite future a fact of life which must be accepted and with which we must somehow cope, or does it mean that a sudden, and possibly catastrophic, fall in prices, like that of May 192o after World War I, is to be anticipated? History generally has a way of repeating itself and similarities are observable between our times and others, but with much longer time-lags between cause and effect in the more recent period. One might hope that, as governments nowadays have much greater control of their economies than in the past, and with the development of the social conscience, disastrous price falls can be avoided or mitigated. It is only a hope, however.

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