ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Inflation is an increase in the level of prices of the goods and services that households buy. It is measured as the rate of change of those prices. Typically, prices rise over time, but prices can also fall (a situation called deflation).

Detailed explanation-2: -Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.

Detailed explanation-3: -Inflation is an increase in the overall price level. The official inflation rate is tracked by calculating changes in a measure called the consumer price index (CPI). The CPI tracks changes in the cost of living over time.

Detailed explanation-4: -Inflation is the rate at which prices for goods and services rise.

Detailed explanation-5: -Inflation can be defined as a sustained increase in the general level of prices for goods and services. It is measured using the Consumer Price Index (CPI), which looks at the changes in prices of a basket of goods and services over time.