233k views
3 votes
What is the economic term used for sustained increase in the price of goods and services?

1 Answer

2 votes
The economic term used to describe a period of sustained increase in the prices of goods and services is called inflation. Inflation is characterised mainly by a general increase in the prices of goods and services and a reduction in the currency's purchasing power. Hope this helps. Let me know if you need additional help!
User Himanshu Singh
by
9.3k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories