Inflation appears to be moving up in some developed countries. In the U.S., inflation is measured by the consumer price index, which tracks the prices of about 80,000 items each month.
This includes our most common household groceries such as cereal, milk, coffee and wine.
In Great Britain, economists have a similar measure called the retail prices index. Due largely to a rising number of small distilleries in the past few years, the Brits recently added gin to its monitored shopping basket.
After years of consistently higher sales, gin has joined the ranks of other British staples in tracking higher prices, thereby earning the moniker “ginflation.”