So even though this outlook could not be classed as general deflation in a global sense, there will probably be enough instances of deflation around that people will be talking about it for a year or two.
2  Argentina was in deflation prior to the collapse of the currency board arrangement early this year, but that has now been followed by the rather more familiar problem of inflation, accompanied by a host of other serious difficulties. BIS Review 71/2002  5  3. Should we worry about deflation?