💸Inflation is a sustained increase in the general price level of goods and services.
📉Deflation is a sustained decrease in the general price level of goods and services.
💰Inflation can be caused by cost-push factors, such as an increase in the cost of production.
📈Inflation can also be caused by demand-pull factors, such as an increase in consumer demand.
🤝Keynesian economists argue that intervention is needed to counter deflation and stimulate economic recovery.