Economic Growth and Instability. Kati Hall (kmh5193) Victor Kolton (vsk5006) Nick Odle (nao5007) Dan Brandt (dmb5263). Inflation. Inflation is a rise in the general level of prices. When inflation occurs, each dollar of income will buy fewer goods and services than before.
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Kati Hall (kmh5193)
Victor Kolton (vsk5006)
Nick Odle (nao5007)
Dan Brandt (dmb5263)
CPI = price of the most recent market basket
in the particular year
_____________________________________ x 100
Price estimate of the same market basket