In terms of economics

In terms of economics, inflation can be defined as a continuous increasing in the general price level of goods and services in the economy of a country over a period of time. When the inflation rate of price level of goods and services increase, the purchasing power of currency will be reducing. Inflation can cause increasing in cost of living.
The inflation rate can be determined or calculated by calculating the changes in a price index for consumer price index. The inflation rate are the percentage changes of a price index over a period of time. Inflation can occur when an economy becomes overhead and grows too quickly.


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