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

Native speaker’s answer
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.