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What is Inflation and Why do Economists Want to Avoid It?

Inflation is an economics term that most of us hear a lot. There will often be news stories about how the government is working to keep inflation low. While this word is commonly used in the media there still be a bit confused as to what it actually means for us. We might also wonder why economists and governments are so eager to avoid inflation. This is an important idea in economics, but one that can cause confusion for the rest of us.

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