A sustained and accelerating increase in prices that is reflected in the corresponding declining purchasing power of the currency.
It has the greatest effect on salaried employees. Modern economic theory describes three types of inflation:
Cost inflation is caused by salary increases that cause companies to raise prices to cover higher labor costs, which carries out the demand for higher salaries.
Inflation caused by increased consumer demand for easier credit.
Monetary inflation caused by expansion in the money supply, in other words, due to the printing of more money by the government to cover its deficit.
The Sales Glossary is a compendium of all the most commonly used terminology in sales strategy. Many of the concepts listed here are used when implementing a CRM system or a digital sales funnel, no matter if they are legacy systems or an online CRM. See also our blog that deals with sales techniques, marketing and sales culture.