Yes, the data in Europe and Japan seems to suggest deflation and that is why interest have stayed near zero for a long time and in some places are at negative interest rates. I am not saying that inflation is impossible, but the trends seems to be that the forces that create deflation are winning against the forces that create inflation.

I have not done research on this, but my intuition tells me that wealth inequality will be a big driver of deflation. The ultra wealthy aren't living paycheck to paycheck so a large percentage of the money that the wealthy receive go straight into investments. This drives the price up in the different asset classes, but it does not drive consumer inflation. At least we aren't seeing evidence of consumer inflation in any of the large economies yet.