What is a recession? The economic concept explained and what happens during one

As prices increase and gross domestic product declines, many people worry about a potential economic downturn, also known as a recession.

Consumer prices rose 8.2% from a year earlier in September while core prices, which exclude volatile food and energy items, climbed 6.6% annually, according to the Labor Department's consumer price index.

Meanwhile, GDP, or the value of all goods and services produced in the U.S., increased by 2.6% in the quarter that ended Sept. 30, after dropping at an annual rate of 1.6% in the first three months of the year and 0.6% in the second three, according to the federal Bureau of Economic Analysis.

Olivia Munson & Paul Davidson | USA TODAY

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