Easy Economics in English: What is Inflation?

Learn English through economics! 📈 In this ESL lesson, we explore the meaning of inflation and learn essential economics vocabulary that can help you understand business news, financial discussions, and everyday conversations about the economy.

What exactly is inflation? Is it simply the price of hamburgers, coffee, eggs, or rent going up? In this lesson, you'll learn why inflation means more than an increase in the price of one product or service.

You'll learn important economics and English vocabulary, including:

Inflation — an increase in the average price level of goods and services
Cost of living — how much it costs to meet your everyday needs
Disposable income — money left over after necessary expenses
Deflation — a general decline in prices
Hyperinflation — extremely rapid and severe increases in prices
Demand-pull inflation — inflation caused by excessive demand
Cost-push inflation — inflation caused by rising production costs
Money supply inflation — too much money chasing too few goods
Phenomenon — an important word you'll encounter in economics and academic English

This lesson is especially useful for English as a Second Language (ESL) learners, intermediate and advanced English students, and anyone who wants to build their economics vocabulary and financial English skills.

You'll also learn about real-world examples of inflation and hyperinflation, including historical examples from Germany, Zimbabwe, Japan, and other countries.

The lesson concludes with a famous quote from economist Milton Friedman: “Inflation is always and everywhere a monetary phenomenon.”

Improve your English while learning how economists talk about prices, money, supply, demand, wages, and the cost of living.

Topics covered: inflation, economics English, ESL vocabulary, financial English, business English, economics vocabulary, cost of living, deflation, hyperinflation, demand-pull inflation, cost-push inflation, money supply, disposable income, and Milton Friedman.

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Now you can learn English quickly by yourself at home for free step by step! This video gives you a topic for conversation, something to speak about, as well as some words and phrases to use. Great for teachers and students of English as a second language (ESL) both in the classroom and as self-study.