Inflation is the rise in price of a particular thing. This can include the price of goods and services. In the context of the law, the Federal Reserve Bank has the power to attempt to control inflation. This is done to try to preserve the purchasing power of the national currency.
Resume inflation, adding false experience to your resume, is also illegal.
The problem with inflation is that eventually the price of goods can become too high relative to the currency. So, efforts are made by the government to try to prevent this from happening.
In terms of resume inflation, this can be a problem because it can cause an employer to hire someone who is not actually qualified for the job. For example, if a law student applies for a position as an attorney at a law firm, it can be a problem if they claim that they are a fully qualified lawyer on their resume.