In economics, inflation is a rise in the general level of prices of goods and services in an economy or in a particular country over a period of time. Inflation results in a fall in the value of money. A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index.
Inflation in practice: Companies must count with inflation in their financial plans, calculations of product and service prices, financial analyses and evaluation of investment (for example, the calculation of return or net present value - NPV).
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