Tag: inflation

Money money money: the National Bank of Belgium in close-up.

ABBA used to sing it, Scrooge McDuck knew it since long and you are surely in the know too: it’s all about the money. On Thursday 11 May I visited with my fellow pupils from the sixth grade the source of our money: the National Bank of Belgium.

Assignats: currency from the French Revolution

It’s written in the history book: printing more money has never solved an economic crisis.

Inflation Island game

Do you know the difference between deflation, price stability, high inflation and hyperinflation? Find out on Inflation Island.

Everybody a billionaire?!

The Museum of the National Bank of Belgium has several inflationary notes on display. The most remarkable ones are the 500 billion dinar note of former Yugoslavia and that of 1 million trillion Hungarian pengö (or 1 followed by 18 noughts!).

The consumer price index

Although frequent subject in the news, the notions of purchasing power and inflation are not any easier to understand. In Room 14 of the Museum you can see how prices have changed for a selection of items (bread, meat, milk, beer and coal/oil) and, in parallel, the development of the average hourly wages of a worker, from 1860 until the present day. The table showing the evolution of prices is based on a principle similar to that used for the consumer price index (CPI) .