A yearly event happens once a year or every year. The seven major industrial countries will have their yearly meeting in London. = annual Yearly is also an adverb. Clients normally pay fees in advance, monthly, quarterly, or yearly. = annually
You use yearly to describe something such as an amount that relates to a period of one year. In Holland, the government sets a yearly budget for health care. = annual Yearly is also an adverb. Novello says college students will spend $4.2 billion yearly on alcoholic beverages. = annually. happening or appearing every year or once a year