money held by households and firms is contracting - a harbinger of disinflation and slump.

we concur with this medium-term outlook of disinflation, although cpi inflation in the coming months could remain above 5%.

虽然将来几个月消费者价格指数可能会保持在高于5%的水平，我们同意这个反通货膨胀（disinflation）的中期展望。

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assuming the global recovery remains on track, this bout of disinflation will probably dissipate by early next year.

假设全球复苏仍在正轨上，这一波反通膨趋势可能会在明年初退散。

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we are left with his warning that the fundamental forces that delivered the era of disinflation are starting to abate.

最后，我们看到他的警告：带来通缩时代的基本动力正开始减弱。

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now, if you operate an economy below trend for long periods of time, disinflation is sure to become a problem.

现在，如果你操纵经济长期低于基本趋势，通货紧缩势必成为一个难题。

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rapid disinflation (now deflation) is creating more room for further monetary easing during this round of economic down cycle.

在这轮经济下滑周期，迅速的反通货膨胀（现在是通货紧缩）给进一步放松银根创造了更大空间。

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"the rate of change of prices - or the degree of disinflation - is related to the rate of change of globalisation, " he argues.

他表示：“价格变化率，或者说是通缩程度，是与全球化的变化率相关联的。”

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not to be confused with disinflation, which is a slowing down of price rises (a fallin the inflation rate).

不可与通胀减速混淆，后者指物价上升速度放慢（即通货膨胀率减低）。

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so what is one to make of comparisons with germany's "competitive disinflation" of the early noughties?

那么，这种情况能否与本世纪初德国的“竞争性通胀减缓”相提并论呢？

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thus, disinflation (a decrease in the inflation rate) can be achieved only at the cost of some unemployment.

因此，通货紧缩（膨胀率的下降）只能够以一定量的失业为代价。

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i'll just say here that there's no price deflation going on this slump, and there's not even any disinflation going on now.

我只是说，在这次衰退中，没有价格通缩，没有任何的通化通货紧缩。

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his book might equally have been entitled the age of disinflation.

他的新书书名也可以定为《通缩年代》（TheAgeofDisinflation）。

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to the extent that this helps contain global disinflation, it is helpful.

在某种程度上来说有助于抑制全球经济通货紧缩，这种循环是有益的。

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the issue at this stage is not whether we have the tools to help support economic activity and guard against disinflation.

目前的问题不在于我们是否有工具来支持经济增长和防御通缩。

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drupes oblong to ellipsoid, 14-16 mm, pubescent;

核果的长圆形到椭圆形，14-16毫米，短柔毛；

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fruit drupes, fleshy, or hard when dry;

果核果，肉质，干后坚硬；

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drupes globose to ellipsoid, apex and base rounded to obtuse;

核果的球状的到椭圆形，先端和基部圆形到钝；

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drupes compressed triangular-globose, 2. 5-4 cm in diam. seeds light gray, lenticular, ca. 2 x 3. 5 cm.

核果压扁三角形球状，2.5张-4厘米直径种子浅灰色，约，透镜状X厘米。

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drupes 4 or 5 in head, purplish brown, ellipsoid, ca. 2 cm, ca. 1 mm in diam.

在头状花序内核果4或5，略带紫色棕色，椭圆形，约2厘米，直径约1毫米；

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infructescences branched, 2-3. 5 cm, pubescent or glabrous, with 3 or 4 drupes and several prominent scars from fallen flowers.

果序分枝，2-3.5厘米，被短柔毛或无毛，有3或4核果和几个由脱落花留下的突出的痕。

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fruit nutletlike dry drupes, without evident mesocarp at maturity, endocarp bony, dividing into 4 1-seeded or 2 2-seeded mericarps.

核果的果坚果状干燥，没有成熟时明显中果皮，内果皮骨质，进或41种子裂22种子。

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