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.
Read more about Chronic Inflation: Occurrence and Causes
Famous quotes containing the word chronic:
“That’s the whole story of my life: frustration. It’s a chronic disease, and it’s incurable.”
—Robert E. Sherwood (1896–1955)