Dear Folk,
Welcome back to my blog post on the blog Lylymom.
For this blog post, I would love to talk about inflation.
I think you may already knew about the word inflation.
Please allow me to review about what is inflation?
Let's find out about the word inflation from various sources as below:
Based on Investopedia, Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time. It is the rise in the general level of prices where a unit of currency effectively buys less than it did in prior periods.
Based on FinancialExpress, Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc. Inflation measures the average price change in a basket of commodities and services over time.
Based on Wikipedia, In economics, inflation is a general rise in the price level in an economy over a period of time, resulting in a sustained drop in the purchasing power of money.
What is inflation? by Khanacademy: You can watch the video below...
So how the inflation is impact?
For my idea, when inflation occurs, it will impact our economic or our finance, especially with worker or employee that have fixed salary or flat rate wage. For example, this year our salary is 1000USD, and this year no inflation occurs yet and the price for an apple is cost 10USD/apple, and unfortunately next year the inflation occurs and your salary is still 1000USD, not increased, but due to the inflation, the apple price increases. the price for an apple for next year is 100USD/apple and your salary is fixed as 1000USD as previous year an apple is only 10USD, so let's think what will happen? The poor is calling...I hope I understood correctly about inflation. if i'm wrong, please comment, it just my idea my understanding about the inflation...
Next, what causes the inflation? Please watch the video below...
So we already knew about what is the inflation? what causes the inflation?
The last, we will know the methods to control the inflation....For me i think to control the inflation, we should know about how to measure the inflation, so we need to know about the measures to control the inflation...please watch the video below...
