What is inflation?

Inflation refers to a phenomenon of rising prices or falling purchasing powers.

Price, as you may well be aware, is a function of demand and supply.

When the demand for a product or commodity goes up, its price goes up.

When the supply of a product or commodity goes up, its price comes down.

Get off the treadmill

Effect of inflation is bad enough even when you are younger, since you need to make sure that your earnings grow faster than the rate of inflation. Else it will appear that you are making more money than before, whereas in real terms, the purchasing power of your income will actually be falling.

While you are still working, the impact of inflation is partially, or entirely, offset by a continuous increase in income or profit.

But inflation is a killer on

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