On that basis, the disinflation over the past six years will not have been all that impressive.
To the extent that this helps contain global disinflation, it is helpful.
Now, if you operate an economy below trend for long periods of time, disinflation is sure to become a problem.
So far, inflation targeting has locked in low inflation rather than brought about major disinflation.
Some of the disinflation is likely to be persistent, however, as a general easing in core inflation is typical during recessions.
It also considers the spectrum of authoritative prescriptions for disinflation of the economy.
Some advanced economies struggle with weak demand, high unemployment, and disinflation.
Evidently, disinflation costs are higher in such a setting.
However, persistent excess capacity evident in labor and product markets pointed to possible further disinflation.
The strengthening economy had reduced concerns of significant further disinflation, but those concerns had not been eliminated.
British Dictionary definitions for disinflation
(economics) a reduction or stabilization of the general price level intended to improve the balance of payments without incurring reductions in output, employment, and investment Compare deflation (sense 2)