Manuel is retired and receives a fixed payment from his pension each month. when there is inflation?

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01-08-2022
Business

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Manuel is retired and receives a fixed payment from his pension each month. when there is inflation?

Sagot :

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okpalawalter8 okpalawalter8 · Answer 1 · 2022-08-05T10:54:19-04:00

Manuel is retired and receives a fixed payment from his pension each there is inflation when the buying power of his pension will fall

This is further explained below.

What is inflation?

Generally, Inflation refers to the rate at which prices continue to grow during a certain period of time, and the term may also refer to inflation itself. In most cases, inflation is assessed on a broad scale, such as the overall increase in prices or the growth in the cost of living in a particular nation.

To put inflation in its most basic form, it may be thought of as the general upward trend in the prices of goods and services over time. What this implies is that a dollar spent now won't purchase as much in the future. In other words, it will lower your ability to purchase things in the future.

In conclusion, Manuel is now retired and receives a certain amount from his pension on an annual basis. In the event that there is inflation, Manuel will be able to buy a lesser total amount with his pension money.

Sagot :

What is inflation?

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