뒤로Macroeconomics: Inflation
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Inflation is the sustained increase in the general price level of goods and services in an economy over a period of time.
Inflation reduces purchasing power because as prices rise, each unit of currency buys fewer goods and services.
The Consumer Price Index (CPI) measures the average change over time in the prices paid by consumers for a market basket of goods and services.
Demand-pull inflation occurs when aggregate demand exceeds aggregate supply, pushing prices up.
Cost-push inflation happens when rising production costs increase prices, even if demand remains constant.
Inflation is measured by the percentage change in price indices like the CPI or the GDP deflator over time.
Hyperinflation is an extremely high and typically accelerating inflation rate, often exceeding 50% per month.
Moderate inflation can encourage spending and investment but may erode savings if wages do not keep up.
Deflation is the sustained decrease in the general price level of goods and services.
Inflation typically leads to higher nominal interest rates as lenders demand compensation for reduced purchasing power.
The inflation rate is calculated as \(\frac{P_t - P_{t-1}}{P_{t-1}} \times 100\), where P is the price index.
Central banks use monetary policy tools like interest rate adjustments to control inflation and stabilize the economy.
Nominal values are measured in current prices, while real values are adjusted for inflation.
The Phillips Curve shows an inverse relationship between inflation and unemployment in the short run.
Inflation can redistribute income by hurting fixed-income earners and benefiting debtors.
Core inflation excludes volatile items like food and energy prices to show underlying inflation trends.
Headline inflation includes all items, while core inflation excludes volatile prices for a clearer trend.
Stagflation is a situation with high inflation, high unemployment, and stagnant economic growth.
Inflation expectations can become self-fulfilling as workers and firms adjust wages and prices accordingly.
The quantity theory of money states that inflation is caused by too much money chasing too few goods.