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11 October, 08:50

What does an inflation rate of 1300% mean?

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  1. 11 October, 09:07
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    Inflation - An increase in the general price of goods and services in the economy over a period of time.

    This would mean that over time, due to supply and demand, prices increase (or decrease depending on high or low inflation)

    Ex) Gas. Gas rises due to how many people need it. Usually it rises around holidays because so many people are driving around and the gas companies don't have enough to just have low prices so they increase them. Same way, if they need money they will lower prices so more people get gas
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