Effects of inflation

Mar 30th, 2015
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American School of Business
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which include reduced value of money, high interest rates, lower savings increased taxation with brief explanation on them

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Effects of InflationReduced value of money: In year 2000 a loaf of bread was retailing at Kshs. 18.00 but one was not able to use the same amount of money to get the same product by the year 2010 after the effect of inflation where one is forced to pay more to purchase the same commodity . As a result, the value of money at hand gets reduced. This reduction on the value of money will directly affect your purchasing power. Lower savings: Higher prices caused by inflation usually prompt people to purchase more now before commodities become more expensive

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