inflation key terms Flashcards
1
Q
define inflation
A
the general rise in prices
2
Q
define deflation
A
the general decrease in prices
3
Q
define disinflation
A
prices rise slower than previous years
4
Q
what does the Living Cost and Food Survey do?
A
collect expenditure surveys and create a basket of 700 goods from 7000 households and rank what more money is spent on.
