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Retired people usually have a fixed income. This means that they get the same amount from SS or a pension. The amount doesn't stay up with increased inflation. Things go up in price faster than their income pays them.
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Why is inflation especially difficult for retired people?
Inflation is that increasing prices of goods and services, but the salaries of retired people do not rise as the prices. They have fixed incomes, and therefore their money buys a little less each month.
What groups would most likely be hurt financially by unexpected inflation?
which of the following group is most hurt by unexpected inflation
Who gets hurt the most by inflation?
Almost everyone. It would be easier to list those who would not be hurt. Certain investors and stocks/shares speculators would not be hurt as far as their investment goes but they would be adversely affected in other areas. Inflation (very simply put) means that the monetary value of something increases. If it is prices then people have to pay more. If it is wages then the employers have to charge more for their goods or services. In theory, if there were no inflation of any type, then the entire economy would remain stable. However this is not possible in a practical world. Because countries trade with each other, we all want to earn more etc then inflation will occur somewhere which in turn will affect (hurt) almost evryone to some extent.
Who is not affected by inflation?
Absolutely everybody is affected by inflation. Poor and rich people are affected by inflation although in different degrees.
What is artificial inflation?
Artificial Inflation is inflation caused by a single person or group of people buying out most of the items of one kind and reselling them at a higher price.
Why is inflation especially difficult for retired people?
Inflation is that increasing prices of goods and services, but the salaries of retired people do not rise as the prices. They have fixed incomes, and therefore their money buys a little less each month.
What groups would most likely be hurt financially by unexpected inflation?
which of the following group is most hurt by unexpected inflation
Who gets hurt the most by inflation?
Almost everyone. It would be easier to list those who would not be hurt. Certain investors and stocks/shares speculators would not be hurt as far as their investment goes but they would be adversely affected in other areas. Inflation (very simply put) means that the monetary value of something increases. If it is prices then people have to pay more. If it is wages then the employers have to charge more for their goods or services. In theory, if there were no inflation of any type, then the entire economy would remain stable. However this is not possible in a practical world. Because countries trade with each other, we all want to earn more etc then inflation will occur somewhere which in turn will affect (hurt) almost evryone to some extent.
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