Inflation

Inflation is the rate at which prices for goods and services increases. The Reserve Bank of Australia try to limit inflation and prevent deflation to ensure the economy runs effectively. The reason a schooner of beer cost $5 last year and is now $7, is due to inflation. This may be caused by small increases in the ingredients of the beer, or the rents charged to the venue owner, so they must increase their price to cover these costs. This generally upward trend in prices is the inflation.

DISCLAIMER: The information provided on this page is for general informational and educational purposes only and is never intended as financial advice. While we strive to ensure that the content is accurate and up-to-date, it may not reflect the most current legal or financial developments. Always consult with a qualified financial advisor or professional before making any financial decisions. Use the information at your own risk.

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