deflation

Question 1

what is deflation

Answer 1

Inflation below 0, general decline in prices of goods and services

Question 2

what is a real life example of deflation

Answer 2

CPI inflation rate turned negative in April 2015 (-0.1%).
Falling oil prices led to cheaper fuel and energy costs.
Supermarket price wars between Aldi, Lidl, and the Big Four (Tesco, Sainsbury’s, Asda, Morrisons) drove grocery price deflation.