valley. (building construction). An inside angle formed where two sloping sides intersect. (geography). A generally broad area of flat, low-lying land bordered by higher ground.
In ordinary usage, price is the quantity of payment or compensation given by one party to another in return for goods or services.
Definition and Example of Inflation. Inflation is an economic term that refers to an environment of generally rising prices of goods and services within a particular economy. As general prices rise, the purchasing power of the consumer decreases. The measure of inflation over time is referred to as the inflation rate. In common terminology, many people may refer to inflation as the cost of living.. For example, prices for many consumer goods are double that of 20 years ago.