November 1, 2017
Definition of ‘Inflation’
Inflation is the rate at which the general level of prices for goods and services increases, affecting a falling purchasing power. Though some inflation is good, central banks attempt to stop severe inflation to keep the excessive increase of prices to a minimum.
As inflation rises, every dollar will buy a smaller percentage of any particular good or service. For example, if the inflation rate is 1%, then a $1 bottle of water will cost $1.01 in a year.
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