An increase in the supply of money, which often results in a general increase in the price of goods and services.

This is one of those words that is typically defined by the effect, instead of the cause. There are a few problems with this approach. The first is that there can be more than one cause. By defining it by the effect, it blurs the causal connection. For instance, a rise in prices could occur because of an increase in taxes on the components. Or prices may increase for individual reasons. Oil prices might increase due to OPEC policy. By focusing on the effects, it blurs the reasons for them, and prevents effective action.

Another problem is that the effects are sometimes uneven at first, obscuring the results of the increase in the money supply. For instance, if the increase in money is funneled into capital goods, it can make certain industries look more profitable than normal, while most consumer goods aren't affected.

And finally, by focusing on the results only, it ignores the moral evaluation of the causes. When the government increases the money supply by printing additional money, they are effectively stealing from everyone who has money, and giving it to some select group. The increase in prices is how that theft becomes visible, but its the theft itself that is wrong. A proper definition must focus on the action itself, instead of just one possible consequence.