Inflation: A general rise in price level a dollar today can buy less in general that a dollar in the past. (Due to rising prices. Prices increase every year.)
Deflation: A decline in the general price level.
Disinflation: Occurs the inflation rate itself declines
Demand Pull: "Too many dollars chasing too few goods"is triggered by an increase in aggregate demand. Output and employment rise while the price level is also rising . Spending Increases faster than production.
Cost Push: Caused by the rise in per unit. Production costs due to increasing resource cost. triggered by a decrease in aggregate supply. Output and employment decline while the price level is rising.
EX: price of oil, labor,or steel

Shoe Level Cost: Increase cost of transactions caused by inflation.
Menu Costs: Real costs of changing a listed price.

Unanticipated Inflation:occurs when people do not know inflation is going to occur until after the general price level increases. 

COLAS: (cost of living adjustment): Negotiated wages rise with inflation 

- Grand Parents