a decrease in the price of goods and services

The general idea is that deflation is a decrease in the price of goods and services.

A general trend toward lower prices

A general trend toward lower prices is called deflation.

The opposite of inflation

The opposite of inflation is known as 'deflation'.

the word used to describe falling prices

Deflation is the word used to describe falling prices.

a reduction in the quantity of money needed to sustain the economy

Deflation is a reduction in the quantity of money needed to sustain the economy.

the opposite of inflation which means a decline in the money supply or credit

Deflation is the opposite of inflation which means a decline in the money supply or credit.

the exact opposite: a decrease in the general price level

While inflation describes an increase in the general price level, deflation is the exact opposite: a decrease in the general price level.

a broad-based decline in consumer prices, or the opposite of inflation

Deflation is a broad-based decline in consumer prices, or the opposite of inflation.

the continuous decrease in prices of goods and services

Deflation is the continuous decrease in prices of goods and services.

negative inflation

Deflation is negative inflation – when the general price level in the economy is falling.

a side effect of a collapse of aggregate demand – a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers

Deflation is in almost all cases a side effect of a collapse of aggregate demand – a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.

a monetary phenomenon'

Despite the fact that John Snow was cheerfully informing us earlier this week that 'deflation is a monetary phenomenon', some inveterate doubters remain unconvinced.

A credit contraction

But deflation is all about credit contraction don't you know?!

the opposite of inflation, a monetary phenomenon in which the ratio of the money supply to economic output is falling

Deflation is the opposite of inflation, a monetary phenomenon in which the ratio of the money supply to economic output is falling.

inflation rate falls below 0%

Deflation occurs when the inflation rate falls below 0%

a protracted fall in prices across different commodities, sectors and countries

Deflation is a protracted fall in prices across different commodities, sectors and countries.

that state of falling prices which occurs at that time when the output of goods and services increases more rapidly than the volume of money income in the economy

In the word of A.C. Pigou, 'Deflation is the state of falling prices which occurs at that time when the output of goods and services increases more rapidly than the volume of money income in the economy.'

that state of falling prices

According to Prof. Pigou, “Deflation is that state of falling prices which occurs at that time when the output of goods and services increases more rapidly than the volume of money income in the economy”.

negative inflation rate

Deflation could be accurately characterized as a negative inflation rate, or when the rate of inflation goes below 0%.

contradictory of inflation

Deflation is the contradictory of inflation which means that the prices or value of goods reduces.