Explaining inflation

Inflation is a situation where there is a increase in a general price level of a given basket of goods over a period of time. We try to limit inflation because when price increases, the standard of living of Singaporeans drop as when the same amount of money is spent on consuming goods, less quantity and quality of goods could be consumed.  The video above could help us to understand the various types of inflation, where then later I would explain how the use of supply-side policies can help to solve inflation.