Question

What is inflation and whats causes it?​

Answer 1

Explanation:

Inflation is a measure of the rate of rising prices of goods and services in an economy. Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product.

Answer 2

Answer:

Inflation can occur in nearly any product or service, including need-based expenses such as housing, food, medical care, and utilities as well as want expenses such as cosmetics, automobiles, and jewelry.