NECO Economics 2025 Objective — Question 29
Question 29 of 60 from the National Examinations Council (NECO) Economics 2025 Objective paper, with the correct answer and a full explanation.
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The slow but steady rise in the general price of goods and services is inflation.
- A. cost-push
- B. creepingCorrect
- C. demand-pull
Explanation
Creeping inflation refers to a slow, steady rise in prices over time (typically 1-3% annually), considered normal and manageable in most economies.
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