FreedomPhilippines: The Homeland becomes the Fatherland

When Prices go up

In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.^[1] When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit of account in the economy.^[2]^[3] A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the Consumer Price Index) over time.^[4]

FreedomPhilippines

Friday, February 11, 2011

The Homeland becomes the Fatherland

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