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Inflation Rate
The percentage increase in the price level of goods and services in an economy over a period of time, reflecting a reduction in purchasing power.
Consumer Price Index
An indicator quantifying the mean variation over periods in the financial commitments urban consumers make towards a particular set of consumer goods and services.
Basket of Goods
A fixed set of consumer products and services whose price is monitored over time to calculate inflation through the Consumer Price Index.
Inflation Rate
The rate at which prices for a wide range of goods and services go up, causing a decline in how much can be bought with the same amount of money.
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