This document summarizes key points from an economics lecture on inflation. It defines inflation as a general increase in prices as measured by the Consumer Price Index. It discusses how inflation relates to the business cycle, with more rapid inflation typically occurring as the economy approaches the peak of the cycle. It also distinguishes between cyclical inflation that occurs over the business cycle and structural inflation that persists throughout the ups and downs. Additionally, it notes that inflation can increase due to various factors like wars or supply constraints and that inflation reduces purchasing power over time.

1. MDU Macroeconomics Lecture 5 Inflation Stephen Kinsella

4. Ireland's baseline inflation for the last 30 years

5. Influence of the "Celtic Tiger" years

7. Inflation and the Business Cycle

9. The Unemployment Trade off

10. Costly Inflation

11. Inflation and Inequality

12. Money Wages and Real Wages

13. Purchasing Power in Ireland