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Inflation- What is It, and What do We do About It?

Updated: Jun 18, 2021

Author: Lambert Zheng

Editors: Simran Gohel and Anand Soma

Artist: Christie Peng

To what extent will inflation affect consumers’ lives and how will it change relate to government intervention?

Inflation is defined as a sustained increase in the general price level of goods and services in an economy over a period of time. It will affect the real value of currency within the marketplace and thus will influence inflation on the consumer side of the economy. Therefore, inflation will affect the choices of consumers to a large extent.