Question

Define Inflation?
Give its types.

Answer 1

Inflation is actually define when the prices of goods and services increase. There are four main types of inflation, categorized by their speed.

They are creeping, walking, galloping and hyperinflation.

There are specific types of asset inflation and also wage inflation. Some experts say demand-pull and cost-push inflation are two more types, but they are causes of inflation. So is expansion of the money supply.