On the other hand, central banks in many countries are becoming increasingly concerned with the risk of price declines, which have not occurred in the decades since the Great Depression. The background to this is that inflation rates, particularly those of major industrialized countries, have trended downward to nearly zero percent amid the disinflationary trend worldwide.
Although it does have a positive effect on real economy, it has brought about the risk that inflation rates could turn negative if downward pressure on prices increases from either the demand or supply side.