Question

What is inflation rates?

Answer 1

Inflation rate is the rate of change in the prices of goods and services in an economy which is reflected year on year.

inflation rate can also be said to be the rate of depreciation in the value of money in economy, because when there is higher prices of goods and services it means that the disposable capability of money has gone down because the discounting rate will be high due to higher inflation.

So inflation rate is the rate of change in the value of goods and services in an economy.