Posted 6 years ago on Nov. 12, 2014, 5:07 p.m. EST by grapes
This content is user submitted and not an official statement
I learnt in school long time ago that price inflation is the general rise in prices of goods and services.
I generally dislike keeping two sets of books for financial numbers, nominal and inflation-adjusted. However, I learnt through living through decades of inflation that the powers that be seemed to require the survivors to do just that. Here I am whom flip calls an "old white (fairly dumb) man from 1950" so let us get a more modern review of what price inflation is and whether it is good or bad and for whom.
Please weigh in, stating from where you are viewing inflation. My experience was that there are at least two parties to every financial transaction so there are probably losers and winners depending on which side one is coming from.
I found the urban dictionary to be superior to my urbane dictionary as far as seeing what the people freely define so this is inflation by vox populi.