The simplest possible definition of inflation: inflation is a rise in price levels. When inflation is high, so are prices. But that’s not all there is to it. Strictly speaking, inflation is the measure of the rate at which prices of goods and services are rising in an economy. If the prices of those goods and services rise (because of production costs, raw materials, wages, etc), then inflation can (and often does) occur. #budget #budgeting #money #moneymanagement
