Over the past few years, most parts of the world have experienced very extreme inflation, with prices rising as much as 10% in a single year. Even though inflation rates have fallen to manageable levels in 2024, prices are still rising and unlikely to fall. Unsurprisingly, this continues to be a source of great stress for people around the world. So why can’t prices stay the same?
As a consumer, stable prices and no inflation are ideal. We want our purchasing power to remain the same and for a dollar today to buy the same amount as a dollar tomorrow. But even in times when the global economy is healthy and stable, governments and central banks actively avoid letting inflation fall too low. Because 0% inflation can actually do more harm than good.
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