Inflation

Definition

  • An increase in the level of prices or a decline in purchasing power, caused by an increase in available currency and credit beyond the goods and services that are available.

Synonyms
increase, hike, rise

Related Terms and Acronyms

  • Commerce Definition,
    • The systems and activities that impact business and trade within a nation and abroad.
  • Consumer Price Index (CPI) Acronym, Important,
    • An index that measures movements in the average price of products and services typically consumed by Canadian families.
  • Cost of Living Adjustment (COLA) Acronym,
    • A method used to keep salaries and benefits in line with inflation by following an index such as the Consumer Price Index.
  • Depression Definition,
    • A prolonged downturn in the economy and level of business activity.
  • Disinflation Definition,
    • A reduction in the inflation rate as a result of either government policy or a decline in economic activity.
  • Economic Growth Definition,
    • The rate of change in output from one year to the next.
  • Economic Indicators Definition,
    • Statistics that help determine how the economy is faring. They include the Consumer Price Index, housing starts, and unemployment rates, among others.
  • Gross Domestic Product (GDP) Acronym,
    • The total value of all the goods and services produced by the Canadian economy in a single year.
  • Gross National Product (GNP) Acronym,
    • The value of all goods and services accruing to Canadians in a given year. It equals Gross Domestic Product, plus income of Canadians from foreign production, less income from Canadian production earned by non-residents (such as interest and dividends paid to foreign lenders).
  • Inflation Protection Definition,
    • A protection found in some insurance policies that allows policy limits to increase with inflation.
  • Inflation-Protected Annuity Definition,
    • An annuity that guarantees a return equal to or above inflation.
  • Macroeconomics Definition,
    • A study of the economy as a whole, particularly the interaction of its various components.
  • Microeconomics Definition,
    • Looking at the individual parts of the economy, with emphasis given to the market process and how it works.
  • Monetary Policy Definition,
    • The Bank of Canada's ability to influence the economy through changes in short-term interest rates and the money supply.
  • Recession Definition,
    • A prolonged period (popularly defined as two successive quarters) in which economic activity shrinks.
  • Stagflation Definition,
    • A time period where the unemployment rate and the rate of inflation are both relatively high.
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