Inflation: A general and sustained rise in the level of prices of goods and services – prices of vast
majority of goods and services on sale to consumers keeps rising over time.
Stagflation: Persistent high inflation combined with high unemployment and stagnant demand in
a country’s economy.
Hyperinflation: Prices rise at phenomenal rates in short periods of time, rendering money
worthless. Usually, the inflation rate is in double digits
Deflation: The prices of goods and services fall. This is usually negative inflation.
Disinflation: Fall in the rate of inflation.