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U.S. inflation falls to 3%, lowest level in more than 2 years, as price pressures ease
(www.politico.com)
this post was submitted on 13 Jul 2023
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Technology is deflationary, but you don't see the tech industry crashing as people wait for steep discounts far exceeding 1% over a couple years or so. Deflation is made out to be a boogeyman because it means the peasants get a pay increase if they keep the same wage unlike the pay cuts they currently receive through inflation.
Tech is deflationary for the same technology, as it devalues due to newer technology coming to replace it. The overall cost of an up to date computer, or camera, for instance is inflationary.
The newer technology costs more than the old, but, barring ridiculous price pumps like the kind from nvidia, they're priced around what the old technology was when it was new, thus it's cheaper given the effect of inflation. Either way, it doesn't negate the point that people don't forego new technology purchases because they'll be cheaper in a couple years or so. That goes against the argument that deflation-haters love to claim, that somehow people will wait because it'll be cheaper. People don't actually seem to operate like that in practice.