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In 1540, after hundreds of years of the cost of living being unchanged, prices in Europe rose seven-fold in the next 100 years. Why?

Answer: As a result of the “Price Revolution”. A large influx of gold and silver from discoveries in the Spanish Empire caused levels of inflation which, while standard today, dramatically altered the cost of living in Europe.

Source: The Ascent of Money – A Financial History of the World by Niall Ferguson

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