Question

What is mean by Inflation in economics?

Answer 1

Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. Central banks attempt to limit inflation — and avoid deflation — in order to keep the economy running smoothly.

hope it helps!!!!

Answer 2

Inflation is a term in Economics in which the prices of goods become high but not so high.If the prices become phenomenonely higer than inflation then it is term as hyperinflation.