Essay 3

Mayank Sharma

Seneca College

INS200NAA: Introduction to Social Sciences II

Professor Nick Sagos

August 18, 2022

                                                INFLATION IN THE CANADIAN MARKET

Inflation is the rate of increase in prices and services over a given period. When a country experiences high rates of inflation, it will experience the destruction of the value of the dollar and a reduction in the purchasing power of individual customers. When prices of goods and services increase in a particular economy, one dollar buys fewer goods and services. The inflation rate is determined using indicators such as the consumer price index/CPI....