Inflation is the rate at which the price of goods and services increases over time, causing a decrease in the purchasing power of money. This means that with the same amount of money, you can buy fewer things than before. Inflation is often measured by the percentage change in the price of a basket of common goods and services over a specific period, such as one year.
Inflation is:
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Question context
This question is part of 🔬 General Science within the broader 🌐 Current Affairs & GK subject and appears in the PPSC Punjab Public Service Commission preparation collection. Reviewing the answer together with nearby questions helps reinforce the underlying concept and identify how it may appear in competitive exams.