this is a consistent increase in the price of goods and services over time.  During inflationary times, money loses its "buying" or "purchasing" power, and it takes more units of currency to purchase the same units of goods or services.  Over time, inflation lowers the value of each unit of currency.

deflation is  consistent decrease in the price of goods and services over time.  During deflationary times, money increases in its "buying" or "purchasing" power, and it takes less units of currency to purchase the same units of goods or services.  Over time, deflation increases the value of each unit of currency.