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The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.
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 ...
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This article is about GDP in the context of economics. For other meanings see GDP (disambiguation).
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Wednesday, December 27th, 2006 556 Views
In economics, a consumer price index (CPI) or retail price index (RPI) is a statistical time-series measure of a weighted average of prices of a specified set of goods and services purchased by consumers. It is a price index that tracks the prices of a specified basket of consumer goods ...
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