Which one of the following statements is an appropriate description of deflation?

1. Deflation refers to a decrease in the general price level of goods and services in an economy. 2. It is the opposite of inflation, which is a rise in the general price level. 3. Option (A) describes currency devaluation or depreciation. 4. Option (B) describes a severe recession or depression, which might be associated with deflation, but isn't the definition itself. 5. Option (C) accurately defines deflation as a persistent fall in the general price level of goods and services. 6. Option (D) describes disinflation, which is a slowing down of the rate of inflation, not a fall in prices.