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What is Inflation
This is where prices rise over a period of time due to growth in the economy.
As the economy grows there is more demand for products and the amount of money
in the economy increases but at a lesser rate. E.g chips ten years back where on
average 70p a portion, now the price is £1.10 per portion.
The figures for inflation are
given periodically usually annually to be used for comparison purposes. This is
a benchmark for the economy. The benchmark for inflation is the Retail Price
Saving and returns on investments need to be more than
inflation if the increase is to be real.
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Term created / updated 2005-07-16 23:12:15
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