Inflation: What is it? It's Affects on us and Causes.

Category July 27, 2022 Economy Simplified Basic of Economy Learn more

An increase in the general level of prices in an economy that is sustained over time.

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How Does it Affect?

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How Does it Affect?

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Causes of Inflation

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Demand-pull Inflation

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Cost-Push inflation

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Built-In Inflation

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Inflation: What is it? It's Affects on us and Causes.

An increase in the general level of prices in an economy that is sustained over time.

Inflation

In Other Words, Inflation is an Increase in the Price of the Daily Used Goods & Service.

How Does it Affect?

- Buyers will suffer a loss - Workers will experience a fall in their real wages - Businesses will be forced to increase their prices - Higher cost of Borrowing

How Does it Affect?

- Exporters and importers may suffer a temporary or permanent loss - Savers will experience a decline in the real value - Government expenditure will increase

Causes of Inflation

There are 3 Major Causes of Inflation

- Demand-pull inflation - Cost-push inflation - Built-in inflation

Demand-pull Inflation

When there is a Sudden rise in Demand with no to minimum increase in Production this situation is called Demand-pull inflation

Cost-Push inflation

A sudden increase in the cost of raw material or Input material of the goods and services leads to Cost-Push Inflation

Built-In Inflation

This type involves a high demand for wages by the workers which are addressed by Increasing the cost of goods and services for the customers

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