Inflation

Inflation is an economic term that describes a specific term in which the demand for goods and services exceeds the available supply. As a result, prices go up. In simple terms, inflation is a sharp upward movement in the price level. This situation is painful for people with low incomes. There are many causes of inflation. Hoarding, black marketing lack of industry, and lack of production are some major causes of inflation. An efficient government system can control inflation through the implementation of strict laws.