Effects of Global Inflation

There is a giant issue of inflation, all over the world. People are facing the everyday issue of price rises. It has frozen the flow of normal life and has affected the whole of human life. To provide people life from good to best, it is definitely required to control inflation. 

The effects of inflation are very strong on our lives. The prices of utilities are inflated on one side and the capacity for purchasing is decreased. Both are interdependent. If prices are raised, it automatically leads to problems in having these things. It leads to many compromises in our lives i.e. using less food having proteins and vitamins, wearing cheap dresses etc.

It leads to creating a vast gap between the rich and the poor. This gap may have resulted in many social, economic and mental issues. Social relations, economic disparity and political relations among human beings are results. In all these gaps, human noble qualities are compromised. It is not a good trend for the future of us and the lives of our generations.

Inflation affects the whole society and especially the white collar people. The elite class affects the least and the lower class survives by asking the people around them. The medium class or the people having white collar jobs have to pay the most. The vast majority of the people belong to that group of people. So, it is very necessary for people to control these conditions of the world. 

Price control is very necessary to control inflation in any society. 

In countries where governments are not caring for their people, the owners of mills and the shopkeepers, take the prices of their desire. This will result in increased inflation.

In any state, where inflation is in a controlled condition, the government is committed to facilitating the people by dividing national income with justice. These steps decrease the economic gap among people and result in social harmony and a caring attitude among people. All credit goes to that government and administration. This attitude is required from all over the world to control inflation and to facilitate their people.  

 

The government can control inflation by controlling the money supply by increasing interest rates. In this way the citizens will be encouraged to invest their money in their own country, which helps in decreasing inflation.

One more step can be taken by the government by releasing currency notes according to federal funds rates and overnight reserves. In this way, inflation can be controlled. 

We all can play our role to control inflation by having good control over our expenditures, according to our income and according to our requirements. In these conditions of high inflation, we must cooperate with our management. In this way, we can effectively play a good and positive role.