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Inflation refers to the rate at which the general level of prices for goods and services is increasing over time. This means that the purchasing power of a unit of currency decreases as prices for goods and services rise. Inflation can be caused by a variety of factors, including an increase in the supply of money, an increase in the demand for goods and services, or a decrease in the supply of goods and services. High inflation can have a number of negative impacts on an economy, including decreased consumer spending, reduced investment, and increased uncertainty.
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.
Download our app and start gaining insight into your current and future finances.
