The Rate of Inflation
Read this article about the pattern of US prices and inflation rates from 1913 to the present. Pay particular attention to the charts that show the comparison between US rates and those of other countries worldwide.
Glossary
- deflation:
- negative inflation; most prices in the economy are falling.
- hyperinflation:
- an outburst of high inflation that is often seen (although not exclusively) when economies shift from a controlled economy to a market-oriented economy