The Definition of Inflation

The original definition of inflation is to blow up a balloon. But over time, the definition has changed to mean just higher prices. So if there's more money around, the consequence will be higher prices. And when central banks and whoever is responsible for measuring inflation, with in a society, they don't measure all prices. They only measure the prices of certain consumer goods. As human beings progress, we get better at making stuff. You know, phones are better to day than they were ten years ago. We get better at growing wheat, so wheat is cheaper to produce to day than it was 10 years ago. Inflation doesn't have anything to do with e what we know it is

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