Definition

Noun: * A general and progressive increase in prices: A situation where the cost of goods and services across the economy consistently goes up over time. This is the core economic concept of inflation.

Usage

The term "rising prices" is used to describe the economic condition of inflation. It focuses on the observable effect (higher costs) rather than the complex economic mechanisms behind it. It is often used in news reports, economic discussions, and everyday conversation to describe the impact on consumers.

Examples

• Consumers are concerned about rising prices for groceries and fuel.
• The central bank is taking measures to control rising prices.
• A primary cause of rising prices is an increase in the money supply.

Advanced Usage

• "runaway rising prices": Refers to a situation where price increases are very rapid and out of control (hyperinflation).
  • The country's economy was devastated by runaway rising prices.
• "persistent rising prices": Emphasizes that the increase in prices is continuing over a long period.
  • The government is struggling to tackle persistent rising prices.

Variants and Related Words

• Inflation (n): The economic term for a general increase in prices and fall in the purchasing value of money. This is the most direct synonym and the technical term for the phenomenon of "rising prices."
• Price hike (n): A specific, often sudden, increase in the price of a particular item or service. This refers to individual instances, not a general economic trend.
  • The utility company announced a price hike for electricity.

Synonyms

• Inflation
• Increase in the cost of living

Antonyms

• Falling prices
• Deflation (a general decrease in prices)
• Disinflation (a slowdown in the rate of price increases)

Noun

1. a general and progressive increase in prices
   • in inflation everything gets more valuable except money