How does the inflation affect the standard of living​

Inflation affects your standard of living because it can reduce your spending power. Retirees are often greatly affected by inflation because many retirees live on a fixed income.

Explanation

Consequently, their disposable income is reduced as day-to-day expenses consume an ever growing portion of their income.

Explanation:

Inflation affects your standard of living because it can reduce your spending power. Retirees are often greatly affected by inflation because many retirees live on a fixed income.

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