Definition: Inflation

Term: Inflation

Definition:A phase of the business cycle characterized by abnormally high prices, a decrease in the purchasing power of money, and spiraling costs and wage rates. Inflation may occur when purchasing power is in excess of goods and services for sale, and/or buyers stampede to convert money into commodities or when production costs and prices advance to consecutively higher levels.

To find keyword content within a course, select the course link below.

Course	Page Number
78 - Salary Increase Planning	3
04 - Organization Salary Determinations	18
92 - Expatriate Compensation	12

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Inflation