The meanings became comingled, but originally "inflation" referred to an increase in the quantity of money and price changes were discussed as the common outcome of inflation.
It's a somewhat archaic bit of economic history, but I do think the distinction is important sometimes.
The meanings became comingled, but originally "inflation" referred to an increase in the quantity of money and price changes were discussed as the common outcome of inflation.
It's a somewhat archaic bit of economic history, but I do think the distinction is important sometimes.