Inflation
Summary
Inflation in Summary
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
FAQs
FAQs about Inflation
Is inflation good or bad for the economy?
Inflation is viewed as a positive when it helps boost consumer demand and consumption, driving economic growth. Some believe inflation is meant to keep deflation in check, while others think inflation is a drag on the economy. – Investopedia
