Inflation is defined as the situation where most prices in an entire economy are:

1. Inflation is a statement about prices across a whole economy. 2. A single price can move without inflation occurring. 3. Inflation is when most prices in an entire economy are rising. 4. Falling prices would instead be deflation. _Source: OpenStax Principles of Macroeconomics for AP Courses 2e (CC BY 4.0), Ch 8 'Inflation'_