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Economic Challenges Facing Global and Domestic Business - page 18 / 24

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Inflation is rising prices caused by a combination of excessive consumer demand and increases in the costs of raw materials.

Core inflation rate measures inflation minus energy and food prices.

Demand-pull inflation - Excessive consumer demand.

Cost-push inflation - Rises in costs of the factors of production.

Hyperinflation - Soaring consumer prices.

Inflation devalues money - people can purchase less with what they have.

Deflation is when prices continue to fall.  Deflation can cause a weakened economy.

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