Deflation occurs when consumers delay purchases in anticipation of lower prices, creating a circle of falling prices and demand.

消费者因为预计会降价而推迟购买，由此产生通货紧缩，形成一个价格和需求不断下降的循环。

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Um predicted sales of 28 million iPads in 2011, adding: “Consumers who purchase iPads may be more willing to delay purchases and upgrades of existing PCs.”

Um预计2011年iPad的销售量在2800万，又说：“购买iPad的消费者可能更愿意延迟个人电脑的购买和升级。”

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Scarcer credit and shredded confidence have caused American consumers to delay as many purchases as possible, particularly those of the pricier durable goods Mexico produces.

信贷紧缩和破碎的消费信心使美国尽可能的减少消费，特别是那些墨西哥生产的昂贵的耐用品。

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Thus, the expectation that prices will be lower tomorrow may encourage consumers to delay purchases, depressing demand and forcing firms to cut prices by even more.

ECONOMIST: Could it happen again?

Deflation is bad for an economy as it tends to make consumers and businesses delay major purchases in the expectation that prices will fall further in the future.

BBC: Japan keeps interest rates on hold