noun
low prices; low cost of living
Refers to a general state of low prices for goods and services, often used in economic contexts.
この地域は低物価で暮らしやすい。
This area has a low cost of living and is easy to live in.
低物価政策が消費を刺激した。
The low-price policy stimulated consumption.
高物価 is the antonym, meaning 'high prices' or 'high cost of living'.
Compound of 低 (てい, 'low') and 物価 (ぶっか, 'prices').