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Introduction to U.S. Economy: Inflation (CRS Report for Congress)

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Release Date Revised Jan. 5, 2023
Report Number IF10477
Report Type In Focus
Authors Jeffrey M. Stupak
Source Agency Congressional Research Service
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  • Premium   Revised Nov. 22, 2022 (2 pages, $24.95) add
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Summary:

Inflation is defined as a general increase in the price of goods and services across the economy; in other words, a general decrease in the value of money. Conversely, deflation is a general decrease in the price of goods and services across the economy, or a general increase in the value of money.