Inflation
In the 1970s the prices of most things Americans buy
more than doubled. Such a general increase in prices is called
inflation. Of course prices of selected goods may increase for reasons
unrelated to inflation: the price of fresh lettuce may rise because
unseasonably heavy rainfall in California has ruined the lettuce crop,
or the price of gasoline may rise if the oil-producing countries set a
higher price for oil. During inflation, however, all prices tend to
rise.