Interestingly enough, prices don't even need to become cheaper month to month for there to be an incentive to delay spending. Having access to a positive (real)

Interestingly enough, prices don't even need to become cheaper month to month for there to be an incentive to delay spending. Having access to a positive (real) interest bearing account does the same thing: why spend $1000 today when you can spend $1000 a year from now and keep the $30 in interest (assuming a 3% real interest rate).