Are you feeling the pinch even though your paycheck has gone up? Welcome to the world of inflation!
In this episode of “…Basically”, we break down the often complicated concept of inflation into easily digestible terms. In just a few minutes, we’ll cover what inflation is, why it happens, and how it impacts your everyday life. You’ll gain a clear understanding of the core idea behind inflation and how it reduces the purchasing power of your money.
We’ll explain the three main types of inflation: demand-pull, cost-push, and built-in inflation. We’ll also discuss the unsettling but common practice of shrink-flation, where products get smaller but prices stay the same.
