What does inflation mean

Inflation is a term that is often used in the economic and financial world, but what does it actually mean? In short, inflation is the general increase in prices for goods and services over time. It is a measure of how much more expensive it is to purchase items today than it was in the past. Inflation is an important concept to understand because it affects how much money is worth. When inflation is high, the purchasing power of money decreases, meaning it takes more money to buy the same item. In this article, we will discuss what inflation is, how it is measured, and what it means for individuals and businesses.