Inflation is the term given to a rise in the general level of prices in the economy over a period of time. If prices are falling the term used is deflation. Most procurement practitioners are familiar with two indices of inflation – the consumer price index [CPI] and the producer price index [PPI]. Inflation has been a key target of economic policy for most governments as high levels of inflation devalue the value of assets and of earnings.

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Discover the world’s largest Glossary of Procurement terms

With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.