Disinflation
A slowing of the rate at which prices increase. Typically, this occurs during a recession as sales drop and retailers are not able to pass on higher prices to customers.

Investopedia Says:
Disinflation is not to be confused with deflation, where prices actually drop.

Related Terms:
Deflation
Hyperinflation
Inflation
Inflationary Psychology
Reflation
Stagflation
Stagnation

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