Economics
Inflation
Meaning : A general increase in prices and fall in the purchasing value of money.
Pronunciation: (in · flay · shn)
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).
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Terminology Related to Economics
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