(noncount)
1 : an act of inflating something
the inflation of a balloon
the state of being inflated
It’s important to maintain proper tire inflation. (=pressure)
2 : a continual increase in the price of goods and services
The government has been unable to control/reduce/curb inflation.
The rate of inflation is high/low/rising.
The annual inflation rate is three percent. (=prices are rising three percent each year)
economic inflation