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Five Tips to Shield Your Wallet from the Impact of Inflation
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Introduction to Inflation: Inflation refers to the rate at which the general level of prices for goods and services is increasing over time. In other words, it is the rate at which the purchasing power of a currency is declining. Inflation is typically measured by calculating the percentage change in a price index, such as the Consumer Price Index (CPI) or the Producer Price Index (PPI), over a specific period of time. Inflation can be caused by a variety of factors, including an increase in the supply of money, an increase in demand for goods and services, a decrease in the supply of goods and services, and changes in government policies, such as taxes or regulations. Inflation is considered a normal and expected part of a healthy economy, as long as it is kept under control and does not spiral out of control. When inflation is high and unstable, it can have negative consequences for the economy, such as reducing the purchasing power of consumers and businesses, causing uncertainty fo...