An inflation in which the price rises steadily at an average rate of about 2% per annum is best described ad

Answer Details

The best description for an inflation in which prices rise steadily at an average rate of about 2% per annum is "creeping inflation." This type of inflation is also known as a "moderate inflation." It is characterized by a slow and steady increase in the general price level of goods and services over a period of time. In a creeping inflation, the increase in prices is relatively low and predictable, making it easier for people to adjust their spending habits accordingly. This type of inflation is often targeted by central banks, which aim to keep inflation within a target range of around 2-3% per annum.