Firstly, deflation encourages people to save money. When prices are decreasing, people tend to hold onto their money in anticipation of even lower prices in the future. 

This increased savings can lead to more investment in the economy, which can help to boost economic growth in the long run. 

On the other hand, inflation encourages people to spend money since the value of money decreases over time. 

This can lead to people buying goods and services they do not really need, which can result in a waste of resources. 

Secondly, deflation can help to reduce income inequality.  

In contrast, deflation can benefit people on fixed incomes since their money will be able to buy more goods and services as prices decrease. 

Moreover, deflation can help to reduce the cost of living for people who are struggling to make ends meet.  

As prices decrease, people will be able to afford more goods and services, which can improve their standard of living.