Inflation

Inflation is when the overall prices of goods and services rise over time, causing you to spend more money on things than before. When inflation occurs, money buys fewer goods and services than it did in the past. This can happen due to various factors, such as increased demand for products, rising production costs, or changes in government policies.

Related Terms

• Income (Net Income)
• Income Summary Account
• Insolvency
• Insurance
• Invoice
• Investments
• Inventory
• Intangible Assets