What exactly is inflation? Definition:

Costs of Inflation: How is there a loss of purchasing power by consumers as a result of inflation? What's the effect on savings from inflation? Why? What's the effect on interest rates from inflation? Why? What's the effect on net exports (imports vs. exports)? Why? What does inflation do to the uncertainty of consumers and businesses? Why?

What would be Deflation? Definition: Which would you label "good" deflation and "bad" deflation? Why?

What's the difference between deflation and disinflation? What does deflation do to unemployment? Why? What's the effect on investments from deflation? Why? What does deflation to do those in debt? Why?