What is inflation also explain its causes and remedies?
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Inflation is usually caused by demandoutstripping supply of goods and services. It can also be caused by suppliers/traders of certain goods and services (or speculators in goods) hiking their prices in order to effectively increase their profits/incomes.
A rise in the rate of VAT would also be a cause of increased domestic inflation in the short term because it increases a firm's production costs. Inflation can also come from external sources, for example a sustained rise in the price of crude oil or other imported commodities, foodstuffs and beverages.
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Inflation is usually caused by demandoutstripping supply of goods and services. It can also be caused by suppliers/traders of certain goods and services (or speculators in goods) hiking their prices in order to effectively increase their profits/incomes.
A rise in the rate of VAT would also be a cause of increased domestic inflation in the short term because it increases a firm's production costs. Inflation can also come from external sources, for example a sustained rise in the price of crude oil or other imported commodities, foodstuffs and beverages.
So please make brain list
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