![]() For example, if an average pair of socks costs 100 dollars one year and 105 dollars the following year, the inflation rate is five percent. ![]() Inflation is a fundamental economic indicator. ![]() The monthly inflation rate for the United States can be accessed here. In 2020, prices went up by 1.2 percent in the United States when compared to the previous year. The rate of decrease in the purchasing power of money is approximately equal. ![]() It is the percentage rate of change in price level over time. In economics, the inflation rate is a measure of inflation, the rate of increase of a price index (in the below case: consumer price index). ![]()
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