In partnership with Tom Johns, Chris Perks, Kerry Loftus, Adrian Briscoe, Rick Whiting, Cate Rocchi, Denise Wee, Ziggy Harris
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy.[1] When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.[2][3] The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualised percentage ch…
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