Inflation

Question 1

How is inflation measured

Answer 1

Customer price index

Question 2

Impact of inflation on businesses

Answer 2

Workers may demand extra pay to be able to afford goods and services they bought before if this is not paid workers may go on strike

Question 3

Impact of inflation on consumers

Answer 3

Reduces purchasing power of money higher price means consumers will not be able to buy us many , goods and services-lower standard of living

Question 4

Inflation definition

Answer 4

Sustained increase in the general level of prices of goods and services from one year to the next