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Line 23: − Prices tend to go up when demand from consumers exceeds the normal capacity of producers to supply goods and services. An excess supply of goods and services tends to put downward pressure on prices. See [[supply and demand]]. − High inflation undermines the economy's ability to generate long-lasting growth and job creation. Consumers and investors may put off purchases because of uncertainty. High inflation erodes the value of incomes and savings. People on fixed incomes, including the elderly and poor are particularly vulnerable to inflation. − − Hyperinflation is out of control inflation and has occurred when there is a massive imbalance between the supply and demand and a complete loss of confidence in the currency. It has occurred when prices are decontrolled by central governments, like in the collapse of the [[USSR]], where inflation reached over 1000% in some areas. <ref>[http://globalis.gvu.unu.edu/indicator.cfm?IndicatorID=152&Year=1995&Country=UA] Inflation Indicators Ukraine</Ref>
move inflation stuff over CPI
In economics, '''inflation''' is a general rise in the price of goods and services in relation to purchasing power.
In economics, '''inflation''' is a general rise in the price of goods and services in relation to purchasing power.
Prices tend to go up when demand from consumers exceeds the normal capacity of producers to supply goods and services. An excess supply of goods and services tends to put downward pressure on prices. See [[supply and demand]].
High inflation undermines the economy's ability to generate long-lasting growth and job creation. Consumers and investors may put off purchases because of uncertainty. High inflation erodes the value of incomes and savings. People on fixed incomes, including the elderly and poor are particularly vulnerable to inflation.
Hyperinflation is out of control inflation and has occurred when there is a massive imbalance between the supply and demand and a complete loss of confidence in the currency. It has occurred when prices are decontrolled by central governments, like in the collapse of the [[USSR]], where inflation reached over 1000% in some areas. <ref>[http://globalis.gvu.unu.edu/indicator.cfm?IndicatorID=152&Year=1995&Country=UA] Inflation Indicators Ukraine</Ref>
==Measures of inflation==
==Measures of inflation==
Wanniski, Jude. "Money and Tax Rates." In Wanniski. The Way the World Works. 1978.</ref>
Wanniski, Jude. "Money and Tax Rates." In Wanniski. The Way the World Works. 1978.</ref>
==References==
==References==