what does 7.9% inflation mean? Is that the percentage the currency loses during one month?

Question

what does 7.9% inflation mean? Is that the percentage the currency loses during one month?

In: 6

Answer 1

It’s basically the amount that a selection of goods and service chosen to reflect everyday purchasing rises in a year. Your currency – which is valued against other currencies may not have changed at all – though a devaluing currency can cause inflation since foreign imports become more expensive.