Inflation refers to the rate at which the general level of prices for goods and services rises, leading to a decrease in the purchasing power of money. In other words, when inflation is present, each unit of currency buys fewer goods and services than it did previously.
"Inflation" refers to the rate at which the general level of prices for goods and services rises, leading to a decrease in the purchasing power of money. In other words, when inflation is present, each unit of currency buys fewer goods and services than it did previously.
It's a key economic indicator, reflecting the health and stability of an economy. Central banks and governments closely monitor inflation rates to make informed decisions about monetary and fiscal policies.
For consumers, inflation has direct implications on their day-to-day lives. As prices rise, the real value of money diminishes, meaning that individuals may need to spend more to acquire the same goods and services they did in the past.
Inflation refers to the rate at which the general level of prices for goods and services rises, leading to a decrease in the purchasing power of money. In other words, when inflation is present, each unit of currency buys fewer goods and services than it did previously.
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