English sentence analysis for postgraduate entrance examination, please be as detailed as possible, thank you.

I don't think this is a phrase, its influence on something. Maybe it's a phrase, muted is an adjective, just use the comparative degree, which is even less important than in the past.

I think it's good for you to write that sentence yourself, but isn't it more appropriate to use sharp rise before and after? ...

Nowadays, compared with1990s, the sharp rise in prices has less impact on the rich.