LYCOS RETRIEVER 
Inflation: Effects
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Eliminating grade inflation and promoting quality education are imperatives for schools at all levels. The adverse effects of grade inflation are far too pervasive and devastating to allow this practice to continue unchallenged. Because both public schools and colleges are impacted by this phenomenon, efforts by both are needed. There is much at stake, and failure to alter the current course of events will eventually lead to conditions all find unacceptable.
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The effect of this arrangement is clear from Graph 2, in which inflation has remained within a narrow band. The Bank controls inflation through an economic tool known as the Official Cash Rate, covered in a separate sheet.
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Low levels of inflation are ... one of the four policy goals of macroeconomics. Low inflation is believed to be preferable, as it maintains international competitiveness, is fairer to poorer elements of society who couldn't keep up with higher prices and deters hyperinflation which had catastrophic effects in 1920's Germany.
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