ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Finance & Development. Ceyda Öner. Inflation measures how much more expensive a set of goods and services has become over a certain period, usually a year.

Detailed explanation-2: -Inflation is the general rise in the prices of goods and services in an economy, over a period of time.

Detailed explanation-3: -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-4: -Inflation is a measure of the rate of rising prices of goods and services in an economy. Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product.