What matters is not price rises as such, but the increase in the money supply that sets in motion the exchange of nothing for something or "the counterfeit effect." Business cycles and recessions follow.
Ignoring time preference is the fundamental error behind monetary planning. It is why in a successful economy, monetary intervention by the state is kept to a bare minimum, or preferably banished altogether.
Deflation is not a matter of animal spirits or consumer expectations. It is the result of earlier creation of money "out of thin air" by central banks and commerical banks. Deflation is the natural result.