28. Inflation

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Last updated 7:02 PM on 6/2/26
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7 Terms

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Inflation

Sustained rise in the general level of prices over time.

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Deflation

Sustained fall in the general price level over time.

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Hyperinflation

Extremely high and rapidly rising inflation.

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Cost-push inflation

Inflation caused by higher costs of production forcing up prices.

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Demand-pull inflation

Inflation caused by higher levels of demand in the economy.

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Imported inflation

Inflation caused by higher import prices increasing costs of production.

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Wage–price spiral

Process where wage rises lead to higher prices which then lead to demands for higher wages.