What is the meaning of 'rounding up'?
I see a question in my textbook as follows:
One effect of the introduction of the euro was "euro inflation", with the cost of living rising sharply as a result of the rounding up of prices.
I'm aware that 'to round up' means 'to find and gather together people, animals or things'. However, if I understand in that way, it seems to be completely meaningless.
Could you clarify the meaning of 'the rounding up' in above-mentioned question? Thank you in advance.
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Answers · 8
3
This is an example of meaning #2 below.
Collins online dictionary
https://www.collinsdictionary.com/dictionary/english/round-up
round up
verb (tr, adverb)
1.
to gather (animals, suspects, etc) together
to round ponies up
2.
to raise (a number) to the nearest whole number or ten, hundred, or thousand above it
Compare round down
3
“Round up” can also mean to change a number like 1.78 to the nearest higher whole number, 2.00. So, maybe before the Euro something cost 3.00; after the Euro, the cost in Euro’s would have been, say, 1.9 euros. But stores round up the 1.9 euro price to 2 euros — so the “rounding up” causes prices to get higher.
2
You're right. This has nothing to do with gathering together people or sheep or anything.
It's a different meaning entirely when it refers to figures. If you have a figure of, say 9.87 and call it 10, you are rounding it up (to the nearest whole number). Likewise, if your figure is 10.06, you can round it down to 10.
If you convert from one currency to another, people tend round up prices to the nearest sensible price. For example, today, the Swiss Franc is 0.89 Euros. If you round up that .89 to one whole Euro, that creates inflation.
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