Inflation is the name for the speed at which the
general level of prices drifts up over time. It is not the price of one random sweet that wiggles on a Tuesday. It is the big picture: rent, bus tickets, band shoes, the lot, mixed in a slow average. If that average rises by about five in a hundred in a year, a thing that used to cost a hundred in the family budget story now costs about a hundred and five. The note in your hand can still be the same pretty paper, it just
buys a smaller slice of life than it did for your grown ups at your age.
💡 TINY TRUE FACTS
At a steady three in a hundred a year, prices in that story about double in roughly twenty four years, because of a math trick with repeated tiny steps. Your pocket money number can stay the same, the town around it is just priced a bit higher each lap.