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Inflation is the ongoing increase of prices over time. Inflation doesn't always happen, but it's very common.
From the year 1950 to now, the price of almost everything has increased due to inflation, and it will probably keep going up as time goes on.
Extremely high inflation is bad because it makes it more difficult for people to purchase the things they want and need. Inflation also causes people’s savings to be worth less.
Inflation usually happens when the amount of paper money or currency in a country grows faster than the number of products or services that people want to buy. Inflation happens because more paper money is being printed without changing the number of products or services that people are buying.
As long as inflation can stay steady with time and not increase so fast people’s jobs and income can not keep up…we can still grow and have a very well working and efficient economy.
But if the government continually keeps printing money over and over…inflation will continue to rise too fast and hurt people in the long run. Inflation is a very delicate matter.