Deflation is a continuous decrease in general price levels. This means that the value of money increases. In general, this situation is accompanied by a decrease in production. It is not necessarily better than inflation, because economic agents, thinking that prices will continue to decline, prefer to wait before making expenditures and investments. One can also deflate nominal to real values by correcting the value for inflation (for example, GDP at current vs. constant prices or nominal wages vs. real wages).