Word of the Week:
Inflation

Definition: Inflation is the rise in prices over time. For example, in 1980 you could buy a movie ticket for less than $3. Now a ticket costs about $9 on average, this is inflation. Many factors could cause this including a booming economy, energy prices, and government policy.

Key Takeaway: Although it might seem bad when things go up in price, a slow but steady rate of inflation is generally considered good for the economy.

Challenge: If you drive, you may have seen the direct impact of inflation at the pump. What is your earliest recollection on the price of gas?

Now think of something you purchased this time last year. Has it increased note-ably?

Fun Fact: One alternate method of price changes is the Big Mac. You guessed it, it measures how the price of a Big Mac compares in different countries and changes over time.