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The personal consumption expenditures deflator fell, thanks to falling commodity prices.
The monetary squeeze was severe: thanks to falling prices, real interest rates exceeded 15%.
One is a decline in inflation thanks to falling energy prices, which helps bolster real incomes.
Headline consumer-price inflation has slowed slightly, to 3.3% in the year to December, thanks to falling oil prices.
Only the second time around did growth take off, thanks to falling interest rates and rising house prices.
"Suppliers don't appear to be passing on even half of the savings they are getting thanks to falling wholesale prices.
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The emergency services dealt with hundreds of callouts for flooding issues, while wind gusts in excess of 60mph knocked out power supplies to 2,000 homes, thanks to fallen trees.
As the global economy emerged from recession in 2009, profit margins surged thanks to falls in borrowing costs and weak wage growth.
The weather had undoubtedly held back performance, Bason said, but British shoppers now had more money to spare, thanks to falls in petrol and food prices, and were putting more Primark items in their baskets on each shop.
It may decline further, thanks partly to falling oil prices.
French industrial output fell by a greater-than-expected 0.5% in January, thanks mostly to falling car production; industrial production for the year to January rose by 0.9%.
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