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Consumer Price Index
weighted average of the prices of goods and services purchased by the typical consumer
Inflation
Inflation
CPI’s Growth Rate
Deflation
Decrease in overall price levels of an economy
Low inflation
Gradual increases in the prices that are predictable or expected (0-9%)
Galloping inflation
Prices are increasing rapidly but in periodic bursts (10-99%)
Hyperinflation
Continuous increase in the prices of goods and services (100% or more)
Demand pull inflation
aggregate demand rising faster than potential output
Cost push inflation
inflation due to an increase in production costs