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Average level of prices of goods and services

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Inflation is defined as "a general increase in the average level of prices of goods and services." The Bureau of Labor Statistics (BLS) is responsible for the Consumer Price Index (CPI), which measures inflation. The U.S. rate of inflation as measured by the CPI increased 8.5% last month, the highest rate in 40 years.

What do you think? What are the causes of higher inflation? How long do you think it will take to get inflation under control? How has higher inflation affected your everyday life? Explain the reasoning behind your opinion.

Reference no: EM133240544

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