The situation in which there is persistent fall in the general price level is referred to as

Deflation refers to a persistent decrease in the general price level of goods and services in an economy over a period of time. This can happen due to a variety of reasons, such as a decrease in demand, an increase in productivity, or a decrease in the money supply. Deflation can have negative impacts on the economy, such as discouraging spending, reducing investment, and increasing the real value of debt.