inflation

This is the rate of increase in prices over a given period. Inflation is typically a broad measure, such as the overall increase in prices or the such as the increase in the cost of living in a country. Whatever the context, inflation represents how much more expensive the relevant set of goods and/or services has become over a certain period, most commonly a year. In the United States, the Consumer Price Index (CPI) and Producers Price Index (PPI) are used as a metric to gauge how much inflation has risen or fallen over a period.