Quote from: iamsange on May 19, 2024, 07:10:54 AM

Quote from: arufox on May 16, 2024, 04:26:25 PM

In my opinion, the impact of inflation on household savings could be negative if the increase in goods on the market is uncontrolled, thereby reducing purchasing power. However, inflation can have various impacts on society, both positive and negative, depending on a number of factors including the level of inflation and the industrial sector.

Yes, that's right, as you said, if inflation occurs then the impact will be very dangerous for us as a society, of course on welfare, especially for those of us with low incomes, we will have difficulty buying market goods for family needs, and it will also have an impact on traders because of the decline in people's purchasing power to meet family needs, and this will also have an impact on the country in developing a good economy, with inflation occurring the economy will be hampered.
So the impact of inflation will be fatal if this is implemented in a country whose economy is not yet good.

Many countries have failed or gone bankrupt due to not being able to overcome the impact of inflation, causing their people to fall into poverty and there are even several countries where people have experienced prolonged hunger. Therefore, no country wants to experience inflation because it could have fatal consequences.