1. This suggests that disinflation is proceeding rapidly.

2. The question was whether the administration's disinflation program would be seen to be succeeding before disappointment with its failure made the demand for income policy irresistible.

3. At the same time(), disinflation makes it cheaper to borrow in both real and nominal terms.

4. We concur with this medium-term outlook of disinflation, although CPI inflation in the coming months could remain above 5%.

5. We'll also learn why disinflation, a reduction in the inflation rate, is often very difficult.

6. At the United States Federal Reserve, Paul Volcker engineered a sustained and successful process of disinflation beginning in 1979.

7. the Fed has signalled easier policy with quantitative easing proposed to stem steady disinflation.

8. A common mistake is to assume that falling export prices mean that China is exporting disinflation, whereas rising export prices imply it is exporting inflation.

9. That includes the high point, in 1980, when it hit 14%, and several periods of disinflation, when inflation hovered around 1% and prices remained steady.

10. Money held by households and firms is contracting - a harbinger of disinflation and slump.

11. Assuming the global recovery remains on track, this bout of disinflation will probably dissipate by early next year.

12. Yet a sharp recent retreat in commodity prices, which has seen oil prices plunge some $20 in just three weeks to around $68, suggests the disinflation trend is likely to persist.

13. The issue at this stage is not whether we have the tools to help support economic activity and guard against disinflation.

14. The third "new normal" condition, after shifts in consumption and exchange rates, is disinflation.

15. At this juncture, the risk of either an undesirable rise in inflation or of significant further disinflation seems low. Of course, the Federal Reserve will monitor price developments closely.

16. If nominal exchange rates do not change, the adjustment will come through inflation in emerging economies and disinflation in major advanced economies.