Inflation is the increase in the prices of goods and services across an economy. When prices inflate, you need more money to buy the same things. The opposite of inflation is deflation, when prices are lower across a range of goods and services.
James Howell, a 17th century historian cum writer was the first writer to earn his living from writing alone in the English language; other writers of those times pursued writing as a hobby, not a profession as writing alone never paid enough.
Don Quijote de la Manca by the Spanish author Cervantes has such a role in the Western literary tradition, that it's hard to mention anything posterior to it as the first fiction novel. Jerry mentioned Moll Flanders. That's a nice pick: the very novel that combined literature of roguery and picaresque novel.