Inflation is the Cruelest Tax

Inflation is the Cruelest TaxInflation is a persistent phenomenon that affects all aspects of life, and its effects are often felt most acutely by the poorest people in the world. The World Bank defines inflation as “a sustained increase in the general price level.” It has a number of causes, such as an increase in aggregate demand or a decrease in aggregate supply, and it can be measured by calculating changes in prices for goods or services.