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Inflation is an increase in the overall price level of goods and services in an economy. It can have a number of negative effects, which can be felt by different groups of people in different ways. Some of the groups that may lose from inflation include:
It’s important to note that not all groups lose from inflation, some groups such as debtors and government may benefit from inflation. However, overall, inflation can have negative effects on the economy and the well-being of many people, especially those who don’t hold real assets.
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.