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Inflation

Inflation

Increase in the general price level of goods and services in an economy over a period of time

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Inflation- This is a reduction in the purchasing power of money associated with higher prices, as a result of which the monetary circulation is disturbed, there is excess money compared with the real needs of circulation.

Types of inflation
Depending on the role played by the state in the economy, there are two types of inflation.

Open inflation occurs in market economies. Money depreciates, prices rise, and living standards fall. The state regulates inflation and reduces the availability of money to the economy - raising taxes, the key rate, etc.

Hidden inflation occurs when the state strictly regulates prices. Such bans lead to a shortage of goods because the costs of producers rise and they are forced to reduce production volumes. Because of the increase in the cost of production and the inability to compensate for rising costs, the quality of goods suffers.

Timeline

1864
the term "inflation" was introduced

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Other attributes

Wikidata ID
Q35865

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