Wage Deflation Tally 9 Publishers IBM Hewlett-Packard Microsoft Con-way Freight Shinchang Electrics Wage deflation is setting in like wildfire in the publishing industry. Technology and trucking are affected as well. Budget cuts in California and other states are affecting teachers. Rest assured this is not inflationary news. One of my brothers had to take a 10% wage decline. I think this is getting fairly common. With declining wages, inflation won't be possible no matter how many US dollars are printed because demand can't increase enough to cause inflation.