Dishon R.

Manit
What can you recommend about inflation?

My recommendation about inflation since it is detrimental to development and both the
consumers and the firms are adversely affected. In fact, Inflation can directly cause an
increase in the poverty incidence of a country and inflation is an increase in the prices of
goods and services in a given economy over a period of time. It is important for us to
understand now that because of inflation, our money is continuously shrinking or losing value.
Inflation hurts people particularly those in fixed incomes like the elderly and those whose
income isn’t indexed to inflation. They lose a part of their purchasing powers because their cash
flow remains constant while their cost of living increases. For me as an employee, the things
that I should do in order to survive with inflation is to Get salary increases or switch towards
higher paying jobs as often as you can, lessen you expenses and find cheaper alternatives to
your costs of living and Learn how to invest and make your money grow because it is what rich
people do. They invest their money in businesses and assets which continuously gives them
income rates much higher than inflation rates