This economic measurement is known as the Okura s law. Non economic costs include loss of self-respect and social pressure. Unequal burdens of unemployment it terms of occupation, age, race, gender, education, duration may happen. U.S. unemployment rate was below the rates in France, Germany and U.K. in the last 10 years. That is when the average of all prices of goods and services is rising.
Inflation is measured by the percentage change in prices level.
Prices of some goods rise faster than others, which means that relative prices are changing at the same time that absolute prices are rising. The measured inflation rate records the average change in absolute prices. To measure inflation, subtract last year s price index from this year s price index and divide by last year s indexes, then multiply by 100 to express as a percentage. Therefore, during inflation the purchasing power of a dollar falls, and vice versa for deflation. Deflation is a situation where the average of all prices of goods and services is falling.