The world economy is experiencing deflation due to falling prices of raw materials and a slowdown in growth.
According to Global Finance magazine Wednesday, the inflation rate measured by the consumer price index in major countries has fallen below zero or remained at that level in September compared to the same period last year.
Inflation rate in the eurozone fell into negative territory, at -0.1 percent, for the first time since March this year.
U.K. also recorded the same rate as that of the eurozone -- the second time it has recorded negative inflation rate since 1950.
The U.S. saw the rate dropped to zero percent on-year from 0.2 percent in August.
Consumer prices in China rose by 1.6 percent in September on-year but it was a decrease of 2 percent from the previous month.
Korea’s inflation rate was 0.6 percent on-year, a slight increase from the zero percent it recorded in the previous 10 months.
