from today's Nikkei

需給ギャップが解消
個人消費堅調で
昨年10－12月、8年ぶり
脱デフレへ前進

グラフで、脱デフレ２指標の動き
注）消費者物価は生鮮食品を除く総合

需給ギャップ：suuply-and-demand gap, the gap between supply and demand
解消：この場合は消えると同義：disappear, dissolve
個人消費：private consumption.consumers' spending
昨年10－12月：in the period of (from )last october to December
8年ぶり：for the first time in 8 years,after a 8-year interval
生鮮食品：perishables

Then,

According to a today's newspaper report, it is learned that supply-and -demand gap in our economy has disappeared thanks to consumers' spending recently getting brisk.This is shown in the economic indicators for the period of last October to December.This turnaround is the first one in 8 years. This means the economy is now going on forward, getting out of deflation.

In a graph,
Two economic indicators showing out-of-deflation

note:Consumer prices index is overall one,excluding perishables.