Inflation is the steady rise in prices that erodes what each unit of money can buy

money & economicsWikipedia

Inflation is the steady rise in prices that erodes what each unit of money can buy

the gist

Inflation is an increase in the average price of goods and services, measured by a price index such as the consumer price index. When prices rise, each unit of currency buys fewer goods, so inflation is a fall in money's purchasing power. Its causes include growth in the money supply, shifts in demand, supply shocks such as energy crises, and changes in expectations, which can become self-fulfilling. Deflation, a general fall in prices, is its opposite.

how it works

Central banks use interest rates and open market operations to influence how much money circulates. Higher rates make borrowing more expensive, which slows spending and eases price pressure. Lower rates do the reverse.

so what

Moderate inflation can reduce unemployment because wages adjust slowly, but high or unpredictable inflation discourages saving and investment and squeezes real wages. Most economists favour a low, steady rate, which central banks pursue mainly by setting interest rates. Understanding inflation explains why everyday prices and central bank decisions are linked.

From Wikipedia, the free encyclopedia · text CC BY-SA 4.0

Image: Wikimedia Commons

source: Wikipedia ↗

historyWikipediaclassic1336–1565 · Karnataka, India

Hampi was once one of the world's largest cities, until its Vijayanagara capital was destroyed in 1565

the gist

Hampi is a UNESCO World Heritage Site in Karnataka, India, with more than 1,600 surviving remains spread over 4,100 hectares. It was the capital of the Vijayanagara Empire from 1336 to 1565. Travellers from Persia and Portugal described it as a prosperous, wealthy and grand city with temples, markets and farms along the Tungabhadra River. By 1500 it was estimated to be the world's second-largest city after Beijing, and probably India's richest at the time. In 1565 a coalition of Muslim sultanates defeated the Vijayanagara Empire, its capital was conquered and destroyed, and the city was left in ruins. Hampi remains a religious centre, with the active Virupaksha Temple at its heart.

how it works

The city was built around a fortified core with temples, markets and water structures along the river, supplied by an extensive network of roads and waterworks. When the empire fell, the city was not rebuilt, so its stone monuments were left standing.

so what

Hampi shows how quickly a great city can vanish after a military defeat, and how a ruined capital can remain sacred. Its ruins give historians a view of medieval South Asia that few other sites can match.

fun fact

The name Hampi comes from Pampa, an old name for the Tungabhadra River.

From Wikipedia, the free encyclopedia · text CC BY-SA 4.0

Image: Wikimedia Commons

source: Wikipedia ↗

2 min

politicsshortCNA2:01

False allegations about Singapore’s hand in Indonesia’s markets and a made-up meeting

from CNA

CNA Verify has found close to 400 posts pushing falsehoods tying Singapore to Indonesia’s stock market rout and to a secret meeting that never took place. Together, they drew nearly 12 million views, and some were circulated by accounts that appeared to be working in concert, across multiple social media platforms.

Here’s how the disinformation campaign targeting Singapore was uncovered.

on YouTube: CNA ↗