Answer :
The given statement is True.
Inflation is steadily increasing price levels.
Explanation:
Inflation in an economy of the country is the increase in the prices of goods and services gradually over a period of time. In a given time period, the inflation is measured by the percentage increase in the price of goods and services.
In simple words, we can say that more circulation of money in the economy is called as the Inflation. When prices of goods and services increase, people will have to pay more for the same product or service than they were paying for that previously.
When countries want to control inflation, the governments normally issue bonds or treasury for the general public. People buy these instruments and the circulation of money is controlled and thus the inflation falls normally.
In real world, we can see the price of petroleum has increased significantly over the course of 15 years. This is an example of inflation.
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Answer:
It is TRUE that inflation is the steadily increasing price levels
Explanation:
Inflation is the general/steady increase in price levels of goods and services in an economy i.e increase in the cost of living without the corresponding increase in the purchasing power/value of the money