inflation

Universal Words noun [U] 1 a general rise in the prices of services and goods in a particular country, resulting in a fall in the value of money; the rate at which this happens: the fight against rising inflation * to control / curb inflation * to reduce / bring down inflation * a high / low rate of inflation * an inflation rate of 3% * Wage increases must be in line with inflation. * Inflation is currently running at 3%. * rapid / runaway / galloping inflation * a reduction / increase in the rate of inflation * The annual rate of inflation fell to 1.2% by the end of 1999. 2 the act or process of filling sth with air or gas: life jackets with an automatic inflation device OPPDEFLATION