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Tag - Inflation in Economics

Inflation in Economics

Inflation is the rise in the general level of prices of goods and services in an economy over a period of time. The general prices level rises, each unit of currency buys lesser of the goods and services. Consequently, inflation also reflects erosion in the purchasing power of money. This is a loss of real value in the internal medium of exchange and unit of account in the economy. A chief measure of inflation is the inflation rate, the [...]