Americans who are most concerned about a high rate of inflation are individuals who are on fixed incomes including retirees. Retirees fear that inflation will result in costs to rise and their standards of living to fall. Hellerstein's essay contained the following graph showing inflation rates for your forty year period during the United States: According to an essay by Kimberly Amadeo published on the internet by Answers.com, high rates of inflation harm buyers by affecting their normal of living.
During periods of high inflation, people have to pay a lot more and much more for goods and services. If their inc ome doesn't improve as fast as the rate as inflation, they will discover their standards of living declining. It's also essential to remember that high rates of inflation do not impact all goods and services equally.
It's possibly that some products such as gasoline might see dramatic increases in price during periods of high inflation, while other products for instance houses may possibly genuinely lose value notwithstanding the fact how the economy is experiencing a high rate of inflation (Amadeo, 2008).
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