The definition of Wholesale Price Index (WPI) is as follows: 1.Inflation is an increase in price of goods while Deflation is that state in which the value of money rises and the price of goods and services falls 2.Deflation is an increase in price of goods while Inflation is that state in which the valueof money rises and the price of goods and services falls 3.Inflation is that state in which the value of money rises and the price of goods and services falls while deflation is an increase in price of goods Choose the correct difference between Inflation and Deflation.