Inflation means a consistent increase in the average price of goods that we buy and the services we need meaning we will need more money to pay for goods. When inflation occurs, the same amount of money can be used for buying fewer things which means that the purchasing power of money goes down. When there is surplus money in few goods, the requirement of goods is more than the amount available with us and the prices go up. Inflation is not always evil; if an increase in salary accompanies inflation, then it is a sign of growth in an economy.
What is Inflation?
