> Inflation over the last 10 years averages 1.7%, which makes it probably the least inflationary 10 year stretch ever. The US went through several stretches of

> Inflation over the last 10 years averages 1.7%, which makes it probably the least inflationary 10 year stretch ever. The US went through several stretches of deflation, prior to the modern fiat era. Some of those eras likely saw ten year stretches with close to no price inflation, particularly around the time of the industrial revolution (which applied enormous downward pressure to price inflation). "Prices dropped an average of ten percent every year between the years of 1930 and 1933." https://www.investopedia.com/ask/answers/040715/were-there-any-periods-major-deflation-us-history.asp https://www.investopedia.com/ask/answers/040715/were-there-a... Or St Louis Fed, 2010 "U.S. Historical Experience with Deflation" "Many people associate deflation with difficult economic times—slow growth and/or high unemployment—such as in Japan since the early 1990s or in the United States during the Great Depression. Yet, not all deflationary periods are associated with hard times. For example, in the United States from 1876-79, the price level fell on average almost 5 percent per year while average output growth exceeded 7.6 percent." https://files.stlouisfed.org/files/htdocs/publications/es/10/ES1030.pdf https://files.stlouisfed.org/files/htdocs/publications/es/10... Of course this always invites the common economics debate centered around whether inflation should properly only be considered a purely monetary phenomenon or should include more comprehensive factors (eg supply and demand pressures). Ultimately I find the only thing that really matters is to define one's terms when discussing it, for clarity.