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Price has gone up

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10y ago

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What is a general increase in the cost of goods and services?

That is called "inflation".


What do you mean by price hike?

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Prices increase due to the increase in production cost.


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An increase in the cost of goods and services that results in a decrease in the purchasing power in the purchasing power of the dollar is known as?

An increase in the cost of goods and services that results in a decrease in the purchasing power of the dollar is known as inflation. When inflation occurs, each unit of currency buys fewer goods and services than before, effectively eroding the value of money. This can impact consumers' ability to afford necessities and influence overall economic stability.


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