The Economic Inflation
The Economic Inflation Glossary Definition
(1) A rise in the prices of goods and services, resulting in a decrease in purchasing power.
(2) A phase of the business cycle characterized by abnormally high prices, a decrease in the purchasing power of money, and spiraling costs and wage rates. Inflation may occur when purchasing power is in excess of goods and services for sale, when buyers stampede to convert money into commodities, or when production costs and prices advance to consecutively higher levels.
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