Inflation is best described as

Name: Inflation is best described as
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Inflation is defined as a sustained increase in the general level of prices for goods and services in an economy over a period of time. It refers to the rate at which prices increase, resulting in a decrease in the purchasing power of a unit of currency. So, a period of rising consumer prices (as measured by the Consumer Price Index) is the best description of inflation.

Inflation Is Best Described as