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What is an inflation?

What is an inflation? Here are some definitions.

Noun
  1. An act, instance of, or state of expansion or increase in size, especially by injection of a gas.
  2. (economics) An increase in the general level of prices or in the cost of living.
  3. (economics) A decline in the value of money.
  4. (economics) An increase in the quantity of money, leading to a devaluation of existing money.
  5. Undue expansion or increase, as of academic grades.
  6. (cosmology) An extremely rapid expansion of the universe, theorised to have occurred very shortly after the big bang.
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