MLchartDataset catalogue

Inflation

Term · Economic statistics · MLC-T-ECS-000943

Rising prices of goods and services over time.

Note: When inflation occurs, the purchasing power of money declines. For example, if the inflation rate is 2 percent annually, then, theoretically, a $1 basket of apples will cost $1.02 in a year.

See contract escalation.

Table 1. Record
IdentifierMLC-T-ECS-000943
FieldEconomic statistics
ReferencesBLS Glossary
See alsoContract escalation
Record as JSON 
{
  "id": "MLC-T-ECS-000943",
  "term": "Inflation",
  "field": "Economic statistics",
  "definition": "Rising prices of goods and services over time.\n\nNote: When inflation occurs, the purchasing power of money declines. For example, if the inflation rate is 2 percent annually, then, theoretically, a $1 basket of apples will cost $1.02 in a year.\n\nSee contract escalation.",
  "see_also": [
    "Contract escalation"
  ],
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/inflation/"
}

Record 943 of 2,177 in Economic statistics terminology (MLC-0116). Request the full dataset.