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Prices do go down. Smartphones for example, or clothing, tvs, music and entertainment via netflix, etc. Even food is now more attainable than ever. Technology and efficiencies in production naturally generate deflation, but for some reason governments insist on enforcing an inflationary policy.

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They insist on enforcing inflationary monetary policy because it is thinly-veiled regulatory capture. No matter what the academics say to try and justify it (it is not justified and does not hold up to critical analysis, see the Cantillon effect), inflation is phenomenon that redistributes purchasing power from the people to those who are relatively closer to the central bank and the printing press (they can purchase assets and spend money before inflation hits the rest of the economy).

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