Reference no: EM132952833
Reply to this post agree or disagree
"Essentially inflation is the rise of prices you'll pay for goods and services. You'll have to spend more to get the same things. Some level of inflation around 2% is normal." (Adamczyk, 2021). Given that inflation is an increase in the price of goods and services, I would think that would make the dollar less valuable tomorrow than it is today.
A prime example of this is the price of paper products. Before the pandemic, I could get an 8-roll package of toilet paper for approximately $9. Now that same roll costs $14, which is an almost a 55% increase, which means I'll be able to buy less with the same amount of money.
"Inflation erodes the average person's purchasing power. Everyone's true inflation rate is different because we all buy different products and services." (Adamcyzk, 2021) Anytime the demand is greater for a product, the price goes up, making your dollar worthless tomorrow.
References
Adamczyk, A. (2021, June 16). Inflation is continuing to rise- here's how it could affect your money. https:// www.cnbc.com
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