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Inflation
Inflation is the rise in prices over time, reducing the purchasing power of money.
A college goal that costs Rs. 10 lakh today may cost much more ten years later.
Inflation has shaped savings behavior across economies whenever prices rose faster than income.
Definition
Inflation is the rise in prices over time, reducing the purchasing power of money.
Case Study
A college goal that costs Rs. 10 lakh today may cost much more ten years later.
Historical Reference
Inflation has shaped savings behavior across economies whenever prices rose faster than income.
Illustration
