inflation
/ɪnˈfleɪʃ(ə)n
/noun [mass noun]
1The action of inflating something or the condition of being inflated: the inflation of a balloon the gross inflation of salaries...
- Has anyone but me noticed the gross inflation of pool table costs during the last decade?
- After maximal inflation, the balloon can immediately be deflated because the mesh opposes elastic recoil.
- As a result, the surgeon decided to dilate the narrowed blood vessel using balloon inflation.
1.1 Astronomy (In some theories of cosmology) a very brief exponential expansion of the universe postulated to have interrupted the standard linear expansion shortly after the Big Bang.In particular, it is violated during the accelerated expansion predicted in theories of cosmic inflation....
- The scenario for inflation in 1982 was that the universe began with a big bang singularity.
- If they find such ripples it will be powerful evidence in favour of Guth's theory of inflation.
2 Economics A general increase in prices and fall in the purchasing value of money: policies aimed at controlling inflation tax allowances and excise duties were increased in line with inflation a reduction in annual inflation from 84 per cent to 7 per cent [as modifier]: high inflation rates...
- In December he indicated that he was concerned about inflation and the excessive risk taking in the markets.
- In a downward inflation trend, salary expectations lag the decreases in inflation.
- Although inflation was dramatically reduced, so was demand, output, and employment.
Derivatives
inflationism
- The U.S. is right now in the grip of the worst form: naive inflationism, which, as Mises says ‘demands an increase in the quantity of money without suspecting that this will diminish the purchasing power of the money.’
- Notwithstanding all the passionate fulminations of the spokesmen of governments, the inevitable consequences of inflationism and expansionism as depicted by the ‘orthodox’ economists are coming to pass.
- Mises fought inflationism, while a large majority of people were convinced that only a courageous expansion of money, credit, and governmental budgets could secure prosperity, full employment, and economic growth.
inflationist
/ noun & adjective ...- And as this remedy fails, and quite different results follow, the sole solution of the inflationists is still more money, still more ‘purchasing power.’
- And the inflationists will surely be quick to point blame at inept politicians, shortfalls in our education system, and powerful global forces outside of our control.
- The inflationists have a keen affinity for regulation.
Origin
Middle English (in the sense 'the condition of being inflated with a gas'): from Latin inflatio(n-), from inflare 'blow in to' (see inflate). sense 2 dates from the mid 19th century.