Analayse The Affects Of Inflation On Individuals

Abstract

Inflation affects people by reducing the buying power of the customers, increasing the daily expense of the people, and reducing the level of savings. As the rate of the product increases, people can afford less with the same income, leading to budget strain, especially for people who have steady incomes. While fixed-rate debts become easier to repay in proper terms, variable-rate loans may become costlier. Wage stagnation amidst rising prices further exacerbates financial pressures. Additionally, inflation introduces economic unbalance, complicating long-term financial plans and potentially reducing consumer confidence and spending. The overall effect of inflation on individuals varies based on their financial circumstances and investment strategies