Changes

*the loss of manufacturing and other good-paying jobs, which results in less income for consumers and fierce shopping for bargains.

*the loss of manufacturing and other good-paying jobs, which results in less income for consumers and fierce shopping for bargains.

== Effect on [[Gold]], Interest rates, [[Stock market]], and [[Bonds]] ==

== Effect on [[Gold]], Interest rates, [[Stock market]], and [[Bond]]s ==

Deflation causes declines in [[gold]] prices and interest rates, but increases in the value of long-term [[bonds]] and potentially the [[stock market]] as investors seek higher rates of return than bank deposits offer.  However, rates of default on bonds can increase due to deflation as borrowers have difficult paying back the principal.

Deflation causes declines in [[gold]] prices and interest rates, but increases in the value of long-term [[bond]]s and potentially the [[stock market]] as investors seek higher rates of return than bank deposits offer.  However, rates of default on bonds can increase due to deflation as borrowers have difficult paying back the principal.

== Food deflation ==

== Food deflation ==