Inflation is

A) a rise in the price of every good and service.
B) a rise of exactly a specified percentage in the price of every good or service.
C) a rise in the average price level.
D) a rise in average prices of at least 10 percent a year.

Inflation

The upward movement in the overall price points of goods and services, cutting down on purchasing strength.

Average Price Level

A measure of the overall level of prices in an economy, often considered in terms of a price index.

Good and Service

Products that satisfy human wants directly (goods) or indirectly (services).