The threat of deflation

The name of the article is called The threat of deflation and it goes into detail about how the theory of spending among people in the world economy. Thanks to the fall in oil prices the economists expect for consumer prices to fall up to 2.5 percent. It seems as if prices in different markets will fall as a result but central banks would prefer that they fall at a steady pace as opposed to a large initial decrease because falling prices make debt much more expensive. Also, the United States has a reason to look forward to the summer as inflation prices are expected to be negative by July. This was a very interesting article because it shows the psychology behind the spending and addresses what the state of the economy will be once prices fall.
http://www.economist.com/finance/displayStory.cfm?source=hptextfeature&story_id=12607235