Inflation is a major topic of interest when new monthly inflation figures and inflation rates are released. Inflation represents a general and sustained increase in the prices of goods and services in an economy, reducing the purchasing power of the currency. One of the most well-known indicators of inflation is the Consumer Price Index (CPI), which measures the average changes over time in the prices paid by urban consumers for a basket of goods and services. Inflation affects the decisions of consumers and businesses, significantly impacting personal budgets and spending choices. Inflation negatively influences consumers’ purchasing power, leading them to buy fewer goods and services or opt for cheaper alternatives. At the same time, businesses face rising production costs and may be tempted to raise prices, leading to what is called cost-push inflation. However, businesses must be cautious, as price hikes can result in decreased sales. Nonetheles...