If inflation increases by 5% while an individual's salary only increases by 2%, the individual effectively has less money to spend despite earning more.

Authors

• Person: Not available Organization: Indiana Daily Student
  How Global Economic Trends Affect Your Personal Finances

Sources

• How Global Economic Trends Affect Your Personal Finances www.idsnews.com Indiana Daily Student via serper

Referenced by nodes (2)

• purchasing power concept
• inflation concept