Businesses incur the expenses of changing prices to reflect inflation. Households and firms spend time and effort determining between real and nominal wages and interest rates.
Therefore, negative inflation, commonly learned as 'deflation', will refer to the general reduction in the price of goods and service by which I mean things getting more affordable to buy over time.
Inflation is a measure of the rate of growing prices of goods and services in an economy. Inflation can occur when expenses rise due to increases in production costs, such as raw materials and earnings.
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