The Great Deflation or the Great Sag refers to the period from 1870 until 1890 in which the world prices of goods , materials and labor decreased .
At a low rate of less than 2 % annually .
The Great Deflation or the Great Sag refers to the period from 1870 until 1890 in which the world prices of goods , materials and labor decreased , although at a low rate of less than 2 % annually .