n. A persistently low level of inflation, particularly one that threatens a country‘s economic prosperity. Also: low-flation.

Example Citations:
The effect is deeply corrosive even if the region never crosses the line into technical deflation. “Lowflation” near 0.5pc can play havoc with debt trajectories if it goes on for long, ultimately throwing Europe back into a debt crisis.
—Ambrose Evans-Pritchard, “ECBs deflation paralysis drives Italy, France and Spain into debt traps,” The Telegraph, April 2, 2014

“Based on our outlook for ‘lowflation’ (these smarties have invented a new word) and lower interest rates, our researchers are bullish on taxable bonds,” said Constance Russo, editor of one of the firm’s investment advisory letters.
—James Russell, “Securities with payouts are back in fashion,” The Miami Herald, November 2, 1986

Earliest Citation:
Indeed, the concept of a lower rate of inflation has become so accepted that analysts at Prudential-Bache Securities Inc. in New York no longer refer to disinflation. “We’ve come up with a new label — ‘lowflation,’ ” said Greg A. Smith, director of research.
—Anise C. Wallace, “Picking the low-flation winners,” The New York Times, November 4, 1984

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