That doesn't seem to make sense. As things get cheaper and wages go down too because there's an oversupply of labor, those poorer people can still afford those cheaper things.
The two things that matter, housing and food, are way way up.
Housing is weird because it just sucks up whatever leftover money people have. We all have to eventually spend all our income on something so it's impossible for everything to get cheaper in the long term. That doesn't mean we won't be able to afford stuff, just that we'll spend all our money just like we always have done.
Food would be encheapened by labour-free production just like products.