Decline in crude oil prices  The other factor behind the recent decline in inflation rates is a rapid and substantial fall in crude oil prices that has occurred since last summer. It should be noted that the effects of falling crude oil prices may be assessed differently depending on the time horizon that you have in mind.
To be more specific, the decline in crude oil prices will result in lower costs for various economic activities, and thereby exert wide-ranging positive effects on the real economy. From a longer-term perspective, it will push up prices as the aggregate demand increases.