This document discusses inflation, including its definition, types, causes, effects, and measures. Inflation is defined as a sustained increase in price levels or a fall in the value of money. The main types of inflation discussed are open, suppressed, galloping, creeping, and hyper inflation. Causes of inflation include increases in money supply, income, deficit financing, and prices. Effects of inflation are inefficiencies in markets, uncertainty over purchasing power, and negative trade impacts. Inflation is measured using consumer price indexes and wholesale price indexes. Measures to control inflation involve monetary, fiscal, and other policies like increasing production and implementing price controls.