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Over the five years before 2008, inflation raised prices 10 percent.
The prevailing view held that monetary inflation raised output prices but did not simultaneously raise wages.
The euro fell as accelerating French and German inflation raised concern the European Central Bank will not cut interest rates soon.
China, which controls fuel prices to curb inflation, raised them as much as 11 percent in the first quarter, while Brent oil rose 12 percent from the level of a year earlier to $118.45 a barrel in the period.
The growth figures, combined with an uptick in consumer inflation, raised expectations for an interest rate hike in December, though not at the Federal Reserve's upcoming Nov. 1-2 meeting.
Inflation raised the price of the best seat under the stars from 50 cents to $4.50 over the years, but the concerts always were a bargain compared with "downtown" prices.
Similar(48)
Similarly, a fall in expected inflation raises the "real" or inflation-adjusted interest rate.
When we are faced with inflation, raising interest rates will slow the economy.
Inflation raises the buyers' benchmark costs of the new products' competitive alternatives.
For the same reason, inflation raises the customer's cutoff point of minimum acceptable return.
Since then, tuition increases have continued to outpace inflation, raising the profile of college costs as a political issue.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com