Last year, a music download cost $1.00. This year, it costs $1.30. The download is one of many commonly used goods and services whose prices rose because of inflation.
Explanation:
Inflation is the generalized and sustained increase in the level of prices in the market over a period of time, when the general level of prices increases. That is, inflation reflects the decrease in the purchasing power of the currency.
When the Industrial Revolution was at its peak, factories were rather high-paying job. So, when people wanted to earn more money, factories were mostly in the north. So people migrated to the north.
