a jug of milk was 40 cents. Today, it’s almost $4. This phenomenon is called inflation.Over the past five decades, all industrialized nations have experienced inflation.
A typical rate of inflation is around two per cent and indicates a stable economy. Gas prices drove Canadian inflation slightly higher in February Although Murray Rothbard, a 20th-century economic historian and political theorist, argues that the natural tendency of the state is inflation, it has its drawbacks.