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“To fight inflation, a government can raise interest rates, decrease government spending, or increase taxes. Central banks may also decrease the money supply by selling government bonds. Additionally, implementing price controls on certain goods and services can also help curb inflation.”
The effects of inflation are often not directly felt but are played out over a long time, especially long-term investments are vulnerable to inflation.
At Horizon65, we created a mobile app that enabled you to check the effect of inflation on your savings.