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inflation |
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Inflation The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Notes: As inflation rises, every dollar will buy a smaller percentage of a good. For example, if the inflation rate is 2%, then a $1 pack of gum will cost $1.02 in a year.Most countries' central banks will try to sustain an inflation rate of between 2-3%. Inflation The rate at which the general level of prices for goods and services is rising.
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