By Naveen Athrappully Food inflation is expected to continue this year, with the prices of eggs, sugar, and beef rising by more than 3 percent. In 2023, food prices rose by 5.8 percent. This year, food price inflation is predicted to be 2.2 percent, according to an April 25 Food Price Outlook report by the […]
Tag: Inflation
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.