Defining Inflation

Understanding the definition of inflation can be confusing at best for the novice. Look at any dictionary and depending upon the time it was issued you will have a variety of definitions.

Webster’s Classification

The definition of inflation given in the 1983 version of Webster’s dictionary leads us to believe that inflation is caused by a rise in the money supply and this in turn results in prices increasing. More currency is being circulated and the failure to meet supply Continue article...

Inflation

Why was a cup of coffee 10 cents in 1960 but over a $1 today? The answer- inflation. A Nexis search in 1996 found that inflation is the most commonly used economic term in the popular media. They found 872,000 news stories over the past twenty years that used the word inflation. “Unemployment” ran a distant second. Inflation is an increase in the price of a basket of goods and services that is representative of the economy as Continue article...