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Inflation is the rate at which prices for goods and services increase over time. To reduce inflation, governments and central banks can use a variety of monetary and fiscal policies, such as raising interest rates, reducing government spending, and implementing price controls. Additionally, increasing productivity and competition in the economy can also help to reduce 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.