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Inflation
Meaning : A general increase in prices and fall in the purchasing value of money.
Explanatory Paragraph:
Inflation refers to the rate at which the general level of prices for goods and services rises, eroding purchasing power. When inflation is high, each unit of currency buys fewer goods and services. Governments and central banks strive to control inflation to maintain economic stability. Inflation is measured through indices like the Consumer Price Index (CPI) and Producer Price Index (PPI).
Usage Examples:
- The central bank raised interest rates to combat rising inflation, hoping to stabilize the economy.
- Inflationary pressures have led to an increase in the cost of essential commodities like food and fuel.
Terminology Related to Economics
Best Articles
Conspicuous consumption is over. It’s all about intangibles now
Ideal Reading Time : 8 Min
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Summary Of The Article
The article examines how conspicuous consumption, once associated with luxury goods, has transformed into inconspicuous consumption among today’s aspirational class. As luxury becomes more accessible, the wealthy signal status through investments in education, health, and cultural capital rather than material goods. These less visible yet costly choices, like private schooling and organic foods, reinforce privilege, social mobility, and future opportunities, making inconspicuous consumption a powerful tool for securing and preserving elite status.
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