Inflation is the increase in the prices of goods and services across an economy. When prices inflate, you need more money to buy the same things. The opposite of inflation is deflation, when prices are lower across a range of goods and services.
James Howell, a 17th century historian cum writer was the first writer to earn his living from writing alone in the English language; other writers of those times pursued writing as a hobby, not a profession as writing alone never paid enough.
The first one to come up with a story was Polidori, who began his now famous tale The Vampyre. Its main protagonist Lord Ruthven was supposedly modeled on Lord Byron. However, Mary Shelley was not that quick in creating her first piece of literature.