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Concept.png Inflation 
The increase in prices of goods and services in an economy

Inflation is used both to refer to the increase of the money supply as well as to the rise in prices concomitant from this.

Note: There is a difference between increase of prices due to a shortage in supply (think crop failures) and increase in prices due to inflation, which is caused by monetary policy.


An example

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Related Quotation

University of California/Los Angeles“speak first hand of the abysmal ignorance [about inflation] of the UCLA Economics Department in the early 1960s.”Antony Sutton


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