Deflation anyone?

Is this what deflation looks like? It sure seems like Procter and Gamble is preparing for lower pricing power in the year ahead. Either they are making a big mistake or more likely, as one of the prime movers in consumer goods, they are getting ready for reality by adjusting to market forces. This chart doesn't imply that a bottom has been reached. Does it really make sense to bet on a V-shaped recovery?

To read the entire WSJ article, which includes such tidbits as "P&G also is testing Tide Basic, a version that costs about 20% less than regular Tide. Meanwhile, P&G plans to reposition Cheer as a value brand, cutting its price by about 13%." :

P&G Plots Course to Turn Lackluster Tide