From Businessweek.com: In most regions, inflation has fallen sharply from its 2008 levels, largely on sharp declines in oil prices. Most countries are seeing rapidly falling inflation rates, also known as disinflation.
However, several countries are dangerously flirting with deflation—or outright falling prices. On the brighter side, the unexpectedly rapid slowing in total and core consumer prices adds to the already ample leeway the central banks have to keep rates low. …. Full Article: Source