In 2008 there was a financial crises and a drop in demand. A lot of people lost their jobs. Unemployment was around 10% so price levels dropped. Also it depend

In 2008 there was a financial crises and a drop in demand. A lot of people lost their jobs. Unemployment was around 10% so price levels dropped. Also it depends on how you measure inflation. Technological progress leads prices down over time. So money printing eats up all the gains from technological progress and then some on top of that. If there was no deficit spending or money printing we would see prices go down every year, because why wouldn't they? Every year we get better and more productive. Economists have convinced themselves that lower prices are a bad thing and politicians use it as cover to print money and spend