No, don't be silly. We're not talking about deflation as in balloons (or at least not entirely).
In my Spanish pueblo, the price of beer has tumbled. Whereas previously one had to search out a bar prepared to dip below the standard price of two euros for a pint of lager, the price of of 1.50, 1,40 is now commonplace. This may be due to competition (although the circumstances have not really changed) or, more likely, the dearth of tourists due to the collapse of the pound.
One of my many locals is selling San Miguel for one euro per pint. (It has the added bonus that one can watch the workmen digging up the road outside - there is nothinng more satisfying, if disgustingly complacent, than sitting in the shade, nursing a punt of the amber liquid, watching the guys slogging away in the hot sun.)