At least here in Canada, the following was just reported by the government: http://www.statcan.gc.ca/subjects-sujets/cpi-ipc/cpi-ipc-eng.htm http://www.statcan

At least here in Canada, the following was just reported by the government: http://www.statcan.gc.ca/subjects-sujets/cpi-ipc/cpi-ipc-eng.htm http://www.statcan.gc.ca/subjects-sujets/cpi-ipc/cpi-ipc-eng... DEFLATION: -Shelter -Clothing, footwear -Transportation INFLATION: -Food -Household furnishings/equipment -Health and personal care -Recreation, education, reading -Alcohol and tobacco So it's not as clear cut (at least here in Canada over the last year) as necessities seeing their prices go up with luxury items seeing them fall.