inflation

noun

• 1the action of inflating something or the condition of being inflated:the inflation of a balloon the gross inflation of salaries
• Astronomy (in some theories of cosmology) a very brief exponential expansion of the universe postulated to have interrupted the standard linear expansion shortly after the Big Bang.

• 2 Economics a general increase in prices and fall in the purchasing value of money: policies aimed at controlling inflation tax allowances and excise duties were increased in line with inflation a reduction in annual inflation from 84 per cent to 7 per cent [as modifier]:high inflation rates