An official website of the United States government.

Official websites use .gov
A .gov website belongs to an official government organization in the United States.

Secure .gov websites use HTTPS
A lock ( ) or https:// means you've safely connected to the .gov website. Share sensitive information only on official, secure websites.

Concept Breadcrumbs

Preferred Term:

inflation

Definition:
An increase in the general price level of an economy. Inflation occurs when the quantity of money in circulation rises relative to the quantity of goods and services offered. The result is "too much money chasing too few goods," and prices are bid up. At high rates of inflation, people tend to lose confidence in money, and the quantity of money in circulation increases relative to expenditures in current prices as people tend to hold (hoard) goods rather than money. Inflation is associated with a rise in gross national expenditure at current prices that is greater than the increase in the real supply of goods and services available.
Concept Schemes:
NALT Full
https://lod.nal.usda.gov/nalt-core
URI:
https://lod.nal.usda.gov/nalt/28678
Download this Concept:
RDF/XMLCreated 2006-01-19, last modified 2013-03-12