Deflation refers to the process in which the general level of prices continues to drop.

所谓通货紧缩是指价格总水平的持续下跌的过程。

youdao

Adding to investor wariness about commodities are concerns about the possibility of deflation, or a decline in the general level of prices for goods and services.

投资者还担心有可能出现通货紧缩，也就是商品、服务的总体价格水平下降，因而对大宗商品就更加谨慎了。

youdao

It is probable that the general level of prices will not rise very much as output increases, so long as there are available efficient unemployed resources of every type.

只要存在有各种类型的可以利用的有效的、未就业的资源，那么，一般价格水平的上升就有可能不像产量的增加那样大。

youdao

Yet since inflation is by definition a rise in the general price level, not one set of prices, it's never as orderly as proponents of inflationary policies like to claim.

WSJ: Review & Outlook: Japan Discovers QE Has Risks

High inflation makes it hard for firms and individuals to distinguish changes in the relative prices of particular items from general changes in the average price level, so price signals become blurred.

ECONOMIST: Should central banks try to target asset-price inflation?