Is it possible to have inflation and deflation at once, and for an extended period? Yes, it is. Since 2009 there has been a period of a secular credit deflation in the eurozone. At the same time, the ECB has pumped money into the financial system to avoid a protracted slump. Has it helped a lot?
There is no force in the whole universe which that could stop a credit deflation once it begins. Yet the inflationary policy of the ECB may have had some effect. It may be observed in the prices of stocks and property. Without the monetary inflation, both stocks and property in the eurozone would be much cheaper now.
A white male with some professional experience in finance and investing.