Inflation clouds have a silver lining for expats even though the stuttering world economy is holding down interest rates.
While cash in the bank and index-linked pension payments are hardly growing, the good news for those on fixed incomes is neither are prices.
For British expats with state pensions linked to the triple lock, that means retirement payments are outpacing inflation.
The triple lock pledges to keep pensions increasing at a minimum of 2.5% a year until 2020.
Inflation in the UK is running way below that level, despite fears over the Brexit vote spooking politicians and economists.
Low cost of living
Low inflation is also dogging the Eurozone and other European countries.
Further afield, inflation is double that in the UK for Canada and Australia.
In Britain, the cost of living increased by just 0.6% in the year to the end of June, even though the Bank of England has triggered another round of bond buying to kick-start the economy.
The rate is the highest since November 2014.
In Europe, British expats are enjoying an average Eurozone rate of 0.2% – but this varies between deflation of -1.1% in Bulgaria to 2% in Belgium.
The latest EuroStat figures show 12 countries are in deflation, Lithuania has 0% inflation and 15 countries are seeing the cost of living rise from between 0.1% to Belgium’s headline figure.
In Australia, inflation is running at 1.6% and in Canada, 1.3%.
Record low interest rates
For expats on fixed incomes, this means prices are fairly static, mainly due to the falling price of oil, which has dropped from more than $100 a barrel two years ago to less than $50 a barrel today.
This has seen the cost of travel and energy drop in many countries.
Cheaper food has also contributed to the fall in prices as farmers have harvested bumper crops in the past year.
At the same time, central bank measures aimed at trying to improve growth has seen interest rates in the UK and Europe sink to record lows from which they do not look like moving for some time.
The US Federal Reserve has indicated a rate hike is on the way in the autumn, but no other world economy looks fit enough to sustain higher interest.