Inflation is the gradual increase in the overall price level of goods and services in an economy over time. When inflation occurs, each unit of currency buys fewer goods and services than it did before. This means that the purchasing power of money decreases, and consumers may need more money to purchase the same items they bought previously.


There are various factors that can contribute to inflation, such as increased demand for goods and services, rising production costs, or changes in the money supply. Central banks and governments often aim to manage inflation to ensure it remains at a stable and moderate level. Too much inflation can erode the value of money and disrupt economic stability, while too little inflation may lead to stagnation. Policymakers use monetary and fiscal tools to strike a balance and maintain a healthy level of inflation conducive to economic growth.


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