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You are an owner of a local bakery shop. You specialize in making French bread, Pita bread, Naan, cakes, and muffins. Your business is doing

You are an owner of a local bakery shop. You specialize in making French bread, Pita bread, Naan, cakes, and muffins. Your business is doing well since you offer quality products at a reasonable price and people love you for that. A friend of yours shared the graph below with you and told you that inflation is going up and it will affect energy and food items the most as the graph shows. First, what does the word "inflation" mean to you? Second, how would the facts presented in the graph below affect your business? Third, what business decisions must you make to cope with the increase in energy and food prices, so you remain in business and/or do not lose your customers

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