So, for example, in the latter stages of the current cyclical bull market, gold and other hedges against inflation got relatively cheaper as stocks continued to soar.

举个例子，在当前这个周期反弹到后半段的时候，在股市飙升的同时，黄金和其他通胀对冲保值产品会相对较为便宜。

youdao

The drivers of inflation are much more structural than cyclical.

此次通货膨胀的驱动因素是结构性的。

youdao

That rarely mentioned good news, in turn, is largely due to lower inflation-a welcome cyclical phenomenon demand-siders often decry as deflation.

这一很少被提到的好消息的产生大部分是由于低通胀导致的——一个广受欢迎的循环现象，而被需求学派当做通货紧缩而大加批判。

youdao

Ironically, cyclical inflation is deflationary, particularly asset price inflation within the context of an extended deleveraging process.

FORBES: The Great 'Flation Debate

Food, the other highly cyclical and inflation-prone indicator, remained subdued, gaining only 0.1% from November.

FORBES

Some of Europe's unemployment is cyclical, meaning that it could be cut by faster economic growth without sparking inflation.

ECONOMIST: A shocking error