Inflation few definitions

1) In layman terms, its just price rise.

2) Inflation is persistent/ sustained increase in price rise.

3) Rate of increase in the general price index prepared by authorized officials, Can be WPI,CPI,PPI.
A good definition: It is the rate by which purchasing power of the people in a particular geography has declined in a specific period.

Or

“It is the % rate by which the prices of goods and services rise beyond their average level.”

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