We have all heard of the terms inflation, deflation, and stagflation, each with its own meaning and impact on our everyday lives. Over the past two years, we have been struggling with inflation and stagflation. However, yesterday, I read an article and learned a new term that was unfamiliar to me until now: "greedflation." It seems that we are currently experiencing greedflation in my country, and probably in the majority of the world.
[source](https://www.naftemporiki.gr/opinion/1490458/to-greedflation-einai-edo/
Greedflation occurs when corporations and producers of goods and services continue to raise prices without a corresponding increase in the cost of production. This typically happens during periods of high inflation, where large corporations raise their prices to enhance their profitability. We can identify this phenomenon when we observe decreasing revenues but increasing profitability, while simultaneously experiencing high inflation. In my opinion, this is precisely what is happening right now.
From what I understand, greedflation will likely become a major problem that governments, especially the European Union, will have to address. Europe has been severely impacted by inflation, and tackling greedflation will be a significant challenge..
Lets do a recap of the other words as well
Inflation is a rise in prices, which can be translated as the decline of purchasing power over time. The rate at which purchasing power drops can be reflected in the average price increase of a basket of selected goods and services over some period of time. The rise in prices, which is often expressed as a percentage, means that a unit of currency effectively buys less than it did in prior periods.
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Deflation is a general decline in prices for goods and services, typically associated with a contraction in the supply of money and credit in the economy. During deflation, the purchasing power of currency rises over time.
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Stagflation
Stagflation is an economic cycle characterized by slow growth and a high unemployment rate accompanied by inflation. Economic policymakers find this combination particularly difficult to handle, as attempting to correct one of the factors can exacerbate another.
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