A symposium on deflation and inflation was held in 1999, highlighting the complexities of these economic phenomena. Deflation, a rare and often misunderstood event, occurs when there is a decrease in the general price level of goods and services. In contrast, inflation is an increase in the price level. The symposium brought together experts to discuss the causes, effects, and implications of deflation and inflation, seeking to understand the underlying factors driving these economic trends. The importance of monetary policy, government intervention, and global economic conditions in shaping the trajectory of deflation and inflation was also explored. As we navigate the complexities of the global economy, understanding deflation and inflation is crucial for making informed economic decisions and developing effective strategies for promoting economic growth and stability.