How does unanticipated deflation affect incomes, debts, and savings?

What will be an ideal response?

Deflation is a general decline in the price level. People with fixed incomes will find that the real value of their incomes will rise (a dollar will buy more goods and services than it did previously). People with debts will find that they have to pay back more in real terms than the nominal value of their debts. Savers will benefit because the real value of their savings will increase.