ENTREPRENEURSHIP

Detailed explanation-1: -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-2: -Inflation is an increase in the prices of goods and services. The most well-known indicator of inflation is the Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed by households (see Explainer: Inflation and its Measurement).

Detailed explanation-3: -Inflation refers to a rise in the general price level of goods and services, deflation is the fall in the general price level of goods and services. Deflation is inflation in negative zone, i.e., a decrease in the general price level of goods and services.

Detailed explanation-4: -Inflation occurs when there is a broad increase in the prices of goods and services, not just of individual items; it means, you can buy less for €1 today than you could yesterday. In other words, inflation reduces the value of the currency over time.

Detailed explanation-5: -Inflation is an increase in the general prices of goods and services in an economy. Deflation, conversely, is the general decline in prices for goods and services, indicated by an inflation rate that falls below zero percent.