This is the continual increase in the price level of a basket of goods and services.

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Inflation is the continual increase in the price level of a basket of goods and services. Deflation is the opposite, where the price level decreases. Recession refers to a slowdown in economic activity, often characterized by a decrease in GDP over two consecutive quarters. Stagflation is a situation where there is both high inflation and high unemployment, which is a challenging combination for policymakers to tackle.

This Is the Continual Increase in the Price Level of a Basket