inflation
/ɪnˈfleɪʃən/ · in·fla·tion
noun
- An act, instance of, or state of expansion or increase in size, especially by injection of a gas. The inflation of the balloon took five hours.
- An increase in the general level of prices or in the cost of living. The country experienced a period of high inflation after the war.
- A decline in the value of money. The inflation of the currency made it difficult to afford basic necessities.
Did you know? The term 'inflation' was first used in economics in the 18th century to describe the increase in the money supply, which led to a decrease in the value of money.