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Inflation
When things slowly cost more than they used to.
Three ways to explain it
Hatchlings · Ages 5–6
Things cost a bit more every year. That’s why sweets cost more now than when grown-ups were little.
Fledglings · Ages 7–8
Prices slowly creeping up, which means the same money buys a little less each year.
High Flyers · Ages 9–10
A general rise in prices over time. It quietly shrinks what money can buy — which is why cash left in a jar loses value even though the number never changes.
Where to go next
We’re writing a full topic about this one. In the meantime, explore Money World.