Inflation

A Persistent¹ increase in the general price level².

• Based on $\Delta m$, inflation is defined as $$\pi =m-g$$ where $\pi$ is inflation, $m$ is the rate of growth of money supply $g$ is the rate of growth of output

Footnotes

1. Continuous ↩

2. not the price of a single product but a basket of products, since it is not possible to include ever ↩