Inflation can be defined as the overall general upward price movement of goods and services in an economy. The U.S. Department of Labor's Bureau of Labor Statistics has various indexes that measure different aspects of inflation.
https://www.dol.gov/general/topic/statistics/inflation
"Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country."
https://www.imf.org/en/Publications/fandd/issues/Series/Back-to-Basics/Inflation#:~:text=Inflation%20is%20the%20rate%20of,of%20living%20in%20a%20country.
Inflation is a rise in prices, which can be translated as the decline of purchasing power over time.
https://www.investopedia.com/terms/i/inflation.asp
Edited by Spanky at 12:17:47 on 02/16/24