Comment by chabska

There is zero evidence that deflation has any effect on spending.

At the micro level, the change in price is too small for every day purchases. Would you starve yourself for one day because the pizza will be one cent cheaper tomorrow?

At the macro level, every interest rate will be adjusted based on the base inflation/deflation rate, so the net effect is zero. Banks will offer a higher profit rate for their savings account to entice people to deposit their money in the bank instead of their mattress.