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Inflation: Difference between revisions
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PeterDuffy (talk | contribs) (Created page with "Historically, '''inflation''' was defined as any increase in the quantity of money, other than an increase from a switch in the money commodity (that is gold) from nonmone...") |
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[[File:Zimbabwe $100 trillion 2009 Obverse.jpg|thumb|2009 Zimbabwe $100 trillion banknote. At the peak of Zimbabwe’s hyperinflation in November 2008, prices in Zimbabwe were doubling every 24 hours.]] | |||
In more recent years, inflation has been defined as higher prices. | Historically, '''inflation''' was defined as any increase in the quantity of money, other than an increase from a switch in the money commodity (that is [[gold]]) from nonmonetary uses to monetary uses. Inflation results from new discoveries or mining of gold or artificial creation of additional quantities of the media of exchange. In more recent years, inflation has been defined as higher prices. | ||
== Consequences of inflation == | == Consequences of inflation == | ||