The key is to understand what inflation is. The definition of inflation that economists use is "too much money chasing too few goods." When you break this down, you will discover parts. There is the quantity cash part and the goods part. The word "goods" means anything that you just buy with cash, which could be things, companies, expertise etc. Notice that there is a relationship between the cash and the...
Food Prices Inflation Data
The key is to understand what inflation is. The definition of inflation that economists use is "an excessive amount of money chasing too few goods." For those who break this down, you will notice parts. There's the quantity cash part and the goods part. The word "items" means anything that you just buy with cash, which could possibly be things, services, expertise etc. Notice that there is a relationship...
What's inflation? To really understand inflation, you should know what cash is and why we use it. Cash represents the value of hard work and producing things that other individuals need to use. The measurement of this production or hard work is completed with units of money. If I spend $20 to buy a can opener, that $20 represents an hour of work serving meals at a restaurant as an example. You can see this...