Deflation: Deflation is the opposite of inflation. It refers to a sustained decrease in the general price level of goods and services in an economy over time. Prices decrease and the purchasing power of money increases.
Consumer Price Index (CPI): CPI measures changes in the average prices paid by consumers for a basket of goods and services over time. It helps track inflation rates and provides insights into changes in purchasing power.
Hyperinflation: Hyperinflation occurs when there is an extremely rapid increase in prices within an economy. It often leads to a loss of confidence in currency and can have severe economic consequences.