This paper presents stability analysis of a recently proposed average-current-mode control of the constant frequency power converters. In order to asses system stability considerations, small signal model of the proposed control circuit is developed. The model is valid for converters operating in the continuous conduction mode and it is accurate up to half of the switching frequency. Three methods for eliminating subharmonic oscillations are presented. The proposed control circuit is suitable for all applications where the average inductor current needs to be controlled - power factor correction circuits, battery charger/dischargers. Model predictions are well confirmed through the simulation results.