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What is inflation?

What is inflation?  In an economy, inflation is an increase in the general price level of PAS (Products And Services). causing a reduction in the value of money.

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 annualized percentage change in a general price index. 

■ REFERENCES: ▪︎ inflation: | ▪︎ inflation

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