Could you tell me what "inflation" is? Also, I want to know what deflation means as well.

Rebecca

"Inflation" is the general increase in the prices of goods and services in an economy. For example, if the price of a burger was $10 last year, and $15 this year, it means that inflation has increased the price of the burger by 50%. Ex: Global inflation has sent the price of food skyrocketing. Ex: Economists are looking for ways to reduce the effects of inflation.