There have been multiple real world examples of deflation so we don’t really have to guess.

There was a somewhat famous example starting in 1929 and extending through the 30s.

It’s less about whether you wait to buy food and more whether you decide to stretch your junker car out as long as possible, or put off home improvements because you’ll save thousands, or decide to put off capital investments and sit on your cash till it’s worth more.

Static lower prices might, but deflation does not. If prices will be lower tomorrow or next week, it’s wiser to hold on to your money and buy later.