Multispectral and hyperspectral image fusion (MS/HS fusion) aims to generate a high-resolution hyperspectral (HRHS) image by fusing a high-resolution multispectral (HRMS) and a low-resolution hyperspectral (LRHS) images. The deep unfolding-based MS/HS fusion method is a representative deep learning paradigm due to its excellent performance and sufficient interpretability. However, existing deep unfolding-based MS/HS fusion methods only rely on a fixed linear degradation model, which focuses on modeling the relationships between HRHS and HRMS, as well as HRHS and LRHS. In this paper, we break free from this observation model framework and propose a new observation model. Firstly, the proposed observation model is built based on the convolutional sparse coding (CSC) technique, and then a proximal gradient algorithm is designed to solve this model. Secondly, we unfold the iterative algorithm into a deep network, dubbed as MHF-CSCNet, where the proximal operators are learned using convolutional neural networks. Finally, all trainable parameters can be automatically learned end-to-end from the training pairs. Experimental evaluations conducted on various benchmark datasets demonstrate the superiority of our method both quantitatively and qualitatively compared to other state-of-the-art methods.