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Inflation, the bane of all economies. A rise in the general level of prices, it doth signify a decrease in the purchasing power of money. As prices for goods and services ascend, so too doth the economy falter and consumers lose their wealth, their money worth less and less. Central banks attempt to control this malady through the manipulation of interest rates, but alas, the battle against inflation is a never-ending one.
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.