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When it counters the consequences of deflation, which is frequently worse for an economy, inflation is beneficial. Consumers spend now to stimulate economic growth when they anticipate price increases. Managing expectations of future inflation is crucial for maintaining a good inflation rate.
In the field of economics, the term "inflation" refers to a rise in a country's overall cost of products and services. Each unit of currency may purchase fewer products and services as the general price level rises, inflation is associated with a decline in the purchasing power of money. Deflation, which is a prolonged increase in the average level of prices for goods and services, is the reverse of inflation. The annualized percentage change in a general price index, also referred to as the inflation rate, is the most widely used indicator of inflation. The consumer price index (CPI) is frequently employed for this purpose because price increases are not uniform across the board.
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