By Mohamed Elashiry - The IB Econ Guru on youtube.com
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In this step you'll learn about inflation, deflation, disinflation and the Producer Price Index. Inflation refers to the sustained or persistent rise in the average price level in an economy over time. Deflation is the opposite of inflation and occurs when the inflation rate is negative. Disinflation is a slowing down of inflation, meaning prices are still rising but at a slower pace. The Producer Price Index measures changes in the prices of a basket of goods and services consumed by the average household, and can be used to predict future inflation."