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Inflation is a commonly used term in economics that refers to the sustained increase in the general price level of goods and services in an economy over a period of time. In Hindi, inflation is known as “मुद्रास्फीति” (mudraasphiti) or “मुद्रा महंगाई” (mudraa mahangaai). It is often measured by the Consumer Price Index (CPI), which tracks the price changes of a basket of goods and services commonly consumed by households. High inflation rates can lead to a decrease in the purchasing power of a currency, making it more expensive for people to buy goods and services, and can have a negative impact on the economy.
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.