Apparently we are having falling high street prices.

In the United Kingdom (UK) we are apparently having falling high steet prices. We are experiencing food price deflation and we are just not buying as much as we have been due to recession. It all depends if people start deferring purchases and then retailers respond with price wars etc.
Ways of fighting deflation, which has plagued the Japanese economy for many years, include the Bank of England's quantitative easing (QE) programme. This has meant the
"Old Lady of Threadneedle Street" buying gilts from foreigners, which was not the plan, so that banks could lend more. There are talks about have negative interest rates for banks. This would involve paying the Bank of England for holding deposits at the British central bank and thereby stop the banks hoarding cash.
Unfortunately, the banks, mortgage providers and building societies have overlent on a grand scale and probably need time to work out who are going to repay their loans
and who are not. They are trying to minimise reposessions, which is a better performance than what occurred in the early 1990s.

One big deflation area is the residential housing market. There has been inflation in the number of indices tracking the market but sometimes it is not clear if prices are rising or falling. There are many regional variations in the UK and the market
for £1m plus houses is very rarified and not really reliant on mortgage finance. So, you could be gently deflating in the north-east of England and nicely inflating in West London.