deflation

Prolonged deflation can trap an economy in a cycle of falling demand and declining output.长期的通货紧缩会使经济陷入需求下降和产出减少的恶性循环中。

Japan's experience with deflation in the 1990s became a cautionary tale for policymakers.日本在20世纪90年代经历的通货紧缩成了政策制定者的前车之鉴。