How will the recession in Iceland affect local prices tourist activities?

I'm traveling to Iceland from the US in May 09. My airfare is already booked, so the trip is definitely happening. I know that the country has some serious financial issues right now, but I haven't heard anything on how it may affect tourism. Should I expect higher prices than before or lower? Will a lot of the tourist activities from the past (i.e. whale watching / snow mobile trips etc) be less available, or not available at all? I'm definitely looking forward to this trip regardless, but just want to get an idea of what it may be like.