In other word it takes 40 years for a country with mayors in every city to combat the effects of choosing the inflation hit in the "Corruption" random event (9x061) rather than the stability hit.Inflation effect from mayors have been changed completely to not make them a super-weapon for only gigantic powers. Now the ratio of mayors versus cities affect a yearly deflation, which is 0.25% when all cities have mayors.
I suggest that the option of choosing an inflation hit be removed from that event, since only the AI is going to choose it now. (15% chance, approximately). I cannot think of a single reason save masochism for a human player to choose the inflation hit under the new rules.
The added inflation from a single state bankruptcy now takes 100 years to combat at best (barring random events). Though state bankruptcy is a serious business, this is perhaps going too far. I suggest reducing the inflation penalty for bankruptcies to 10%.
Overall an interesting change to the inflation system, and certainly the change to make inflation combating useful for both the large and the small is a very positive development, which will be especially valued in MP (amongst the nations in the latin techgroup, that is), but it does have some amusing consequences