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inflation

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noun [uncountable] inflation pronunciation in British English /ɪnˈfleɪʃ(ə)n/
  1. 1
    economics an economic process in which prices increase so that money becomes less valuable

    Your pension is protected against inflation.

    inflation rate/rate of inflation:

    The inflation rate is 3.2%.

    high/low inflation:

    countries with persistently high inflation

    inflation rises/falls:

    Inflation has risen for the fourth month running.

    in line with inflation (=increasing when inflation increases):

    They had expected a pay rise in line with inflation.

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