Question

Define inflation and how it is measured

Answer 1

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Inflation is an increase in the level of prices of the goods and services that households buy. ... 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.

Answer 2

Answer:

Inflation is an increase in the level of prices of the goods and services that households buy. ... 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.