While prices for individual products fluctuate all the time, inflation refers to the ongoing rise in the prices of a broad group of goods and services over time and the resulting loss of purchasing power. Consumers get less for every dollar they spend than they received before inflation occurred.
https://www.investopedia.com/articles/economics/09/1970s-great-inflation.asp#:~:text=The%201970s%20saw%20some%20of,contributed%20to%20the%20high%20inflation.