DO YOU KNOW ABOUT INFLATION??
Inflation We often see this word on TV and in newspapers. What is deflation? Let us now find out what kind of impact this will have on our economy. Inflation is the rate at which the prices of the goods or services we consume on a daily basis increase. This inflation is usually measured in percentages. As the demand for goods increases and supply dwindles, so do the prices of these goods. That is the reason for this inflation. The price of a commodity which was once Rs. 5 is now Rs. 50 due to inflation. At present in our country this inflation is 5%. This means that commodity prices have risen by about 5% this year compared to last year. But once in a while this inflation rises exponentially and the situation goes awry. An example of such is the fact that in 2008 the prices of all commodities in Zimbabwe doubled every 24 hours. You need more money to buy things that have grown so much. The Zimbabwean government has started ...