After some large spikes in inflation following the August 1998 economic crisis, inflation has declined steadily.

Oil is less important to economic growth in the information age than it once was, and inflation has declined sharply.

By the end of the year, inflation had declined, growth continued to improve and unemployment was again below 10%.

The fund hopes inflation will decline further in 1997 and 1998.

If policy is appropriately aimed at price stability now, however, inflation can decline later without unemployment rising above recent levels.

They project that inflation will decline next year to 13 percent from 17.6 percent in 1998.

Stronger economic growth resumed and inflation declined during the 1980s.

The economy grew at a 4.4 percent annual rate in the first half of the year, yet inflation by any and every measure has declined.

He also predicted that European inflation would not decline below the bank's target of 2 percent a year for at least another 18 months.

Since then, inflation has declined to 2.9 percent, with the economy expanding by nearly 5 percent in 2003, more than double the European Union's average.