Chronic inflation occurs when a country experiences high inflation for a prolonged period of time (several years or decades) due to undue expansion or increase of the money supply. In countries with chronic inflation, inflation expectations become 'built-in', and it becomes extremely difficult to reduce the inflation rate.
Other articles related to "chronic inflation, inflation":
... Turkey dealt with severe inflation rates that finally crippled the economy into a recession in 2001 ... Recently Turkey has achieved single digit inflation for the first time in decades, and in the 2005 currency reform, introduced the New Turkish Lira 1 was exchanged for 1,000,000 ...
Famous quotes containing the word chronic:
“Ants are the only creatures on earth, other than man, who make war. They campaign, they are chronic aggressors, and they make slave laborers of the captives they dont kill.”
—Ted Sherdeman, and Gordon Douglas. Dr. Medford (Edmund Gwenn)