Which statement is true about the rate of inflation?

A) It was higher in the 1960s than in the 1970s.
B) It was higher in the 1970s than in the 1960s.
C) It was about the same in the 1960s as in the 1970s.

Inflation Rate

measures the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

1960s

Refers to the decade from 1960 to 1969, characterized by significant social, political, and cultural changes worldwide.

1970s

A decade characterized by significant political, social, and economic changes worldwide, including the end of the Vietnam War and the oil crisis.