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What Is Inflation?
Inflation is defined as a sustained increase in the general level of prices for goods and services. It is measured as an annual percentage increase.
The rate of inflation is the percentage of money youíll need more every year to buy the same things you were able to buy the previous year. Itís the percentage by which the value of money decreases per year. As inflation rises, every dollar you own buys a smaller percentage of a good or service.
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