Daily Point 2027 - Inflation

 

The Banking Tutor

Daily Point 2027

Inflation 

In a market economy, prices for goods and services can always change. Some prices rise; some prices fall. Inflation occurs when there is a broad increase in the prices of goods and services, not just of individual items; it means, you can buy less for Re 1 today than you could yesterday. Inflation is a sustained increase in the general level of prices for goods and services. In other words, inflation reduces the value of the currency over time.

 Sekhar Pariti

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