Inflation Defined

Posted: July 26, 2018 in Economics
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“The definition of inflation is simple. It’s a general rise in the price level….  So you can…think about inflation not as a rise in prices, but as a change in the value of money. When the value of money changes, other things will rise or fall in price.

That’s the definition. Measuring inflation is much more complicated….

We’re concerned with general inflation as a monetary phenomenon. Health care and college prices will keep rising, we’re sure. But the cost of everything else rising is the true threat…” -David Eifrig

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