inflation (economics)
In economics, a rise in the general level of prices. The many causes include cost-push inflation, which results from rising production costs. Demand-pull inflation occurs when overall demand for goods exceeds the supply. Suppressed inflation occurs in controlled economies and is reflected in rationing, shortages, and black-market prices. Hyperinflation is inflation of more than 50% in one month. Deflation, a fall in the general level of prices, is the reverse of inflation.
© RM 2012. Helicon Publishing is division of RM.
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