When prices rise at a high rate is called
When prices rise at a high rate, it is commonly referred to as inflation. Inflation occurs when the general level of prices in an economy increases and the purchasing power of money decreases. It is measured by calculating the percentage increase in the Consumer Price Index (CPI) or other inflation indices.
To determine whether prices are rising at a high rate, one can refer to various economic indicators such as the inflation rate, which measures the annual percentage change in the price level. This information is typically reported by government agencies, central banks, and statistical organizations.
In most countries, the central bank sets a target inflation rate, which is usually around 2-3%. If the inflation rate exceeds this target for an extended period of time, it may indicate a high rate of price increases.
Overall, to identify when prices are rising at a high rate, it is essential to monitor inflation indicators, such as the inflation rate or the Consumer Price Index, which can be accessed through economic reports or official sources.