1.   The deputies were concerned about the inflationary effect of proposed increases in the minimum wage and the possibility of reforms being imposed by Paris.

2.   First, the payment of this sum of money over a short period would have a considerable inflationary effect.

3.   Abandoning the goal would increase the pressure on the Federal Reserve to raise interest rates to contain the inflationary effect of widening deficits.

4.   Gains by the shares of the converting building societies may further heighten concern of the inflationary effect of the handouts.

5.   He also expressed concern about the inflationary effects of tight labor markets.

6.   He warned that if the labor markets tightened much, the Fed would boost interest rates to guard against the inflationary effect of rising wages.

7.   If the metalworkers get a significant wage increase, the Bundesbank has made it clear in the last week that it will act decisively against any inflationary effects.

8.   In addition, Fed Chairman Alan Greenspan has publicly worried about the potential inflationary effect of a rising stock market.

9.   Ordinarily, such a large spending package could have a dangerously inflationary effect.

10.   Other economists discounted the inflationary effect.