In December 2015, the Fed raised interest rates to prevent this process, which results if the money supply increases.
The rate of this process, plus one, is in the numerator of the discount factor.  According to the time derivative of the equation of exchange, the rate of this process is proportional to the time derivative of M, times V over Q. A nominal measurement is converted to a real measurement by accounting for this process. This process is tracked by considering a (*) basket of goods relative to the base year. This phenomenon was coupled with stagnation during the 70s oil crisis. In December 2015, the Fed raised interest rates to prevent this process, which results if the money supply increases. For 10 points, name this phenomenon in which prices go up.
The rate of this process, plus one, is in the numerator of the discount factor.  
inflation [or deflation]