It seems like deflation worries in the media are fairly prevalent these days. Here's a snippet from a typical article (this from CNN):
Doesn't this happen in the consumer electronics industry all the time? In fact, obsolescence seems built into the model. The same digital camera you bought last year can be had for half the price this year and that cycle of innovation keeps a fairly constant fast pace. You can in fact almost guarantee that you are paying more for the electronics you are buying today than you would tomorrow.
This doesn't seem to stop spending though.