Inflation involves the increase in price of goods and services in the market making things unaffordable to the common inflation is one word that has really affected allot of people, looking at the market price of goods and services as been affected rapidly.
Inflation is really affecting the common man as even though those salary earners are complaining as the price of goods continue to improve and skyrocketed high inflation rate is really a Thorn in the flesh of the common man
Inflation is a nightmare for lower middle class people because they will have difficulty meeting their daily needs due to the increasing prices of basic necessities, the increasing prices of goods and services can also increase the cost of living that must be paid by the community. If inflation is not handled immediately, its negative impacts can give rise to social problems, people will reduce their purchases of goods which will result in a decrease in purchasing power and the standard of living will also worsen, ultimately the poverty rate will increase. Inflation is an economic symptom or a classic problem that is difficult to eliminate completely. Efforts that can be made to overcome inflation by increasing production, implementing maximum prices and adjusting people's income.