UK inflation is 10.4%, so what will prices look like 50 years from now? 💷

Well the results are crazy, and will hugely limit your ability to achieve financial independence if you’re not investing in inflationary beating assets. 📈

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*Disclaimer: All ideas presented within this video are that of my own based on my own opinions. Please do not consider any of these videos as financial advice as I am NOT a financial advisor. All financial decisions and choices made are solely your responsibility. The views shared in this video are just for entertainment purposes only. When investing, your capital is at risk and can go up in value as well as down in value. You should consult a suitably qualified professional when seeking out investment advice in order to fully understand the risks associated with investing.*…(read more)

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Inflation is a phenomenon that occurs when the purchasing power of a currency decreases over time due to an increase in the overall level of prices of goods and services. Inflation can have significant economic impacts on individuals, businesses, and governments. With inflation, the cost of living and the prices of products and services increase, and this can negatively affect consumers’ spending power. Inflation can lead to a decrease in the value of savings and can lead to higher interest rates.

Inflationary pressures have been a concern for many countries, and some have experienced periods of high inflation rates in the past. Inflation can be caused by various factors, including increasing money supply, higher demand for goods and services, and supply-side shocks.

If inflationary trends continue to rise as expected, prices will also continue to increase. In fifty years, prices of goods and services will have skyrocketed, making it more challenging for people to afford basic necessities. This means that the cost of living will be significantly higher than it is today, and people will need to earn more money to maintain their standard of living.

The inflation rate is also heavily impacted by global events such as pandemics, wars, and natural disasters. These external factors can cause a sudden increase in demand and reduce supply. For instance, during the Covid-19 pandemic, we have witnessed an increase in demand for essential goods causing a sharp rise in prices of essential items such as food, water, and cleaning supplies.

Inflation’s effect on prices over a long period can be seen in education and healthcare sectors. The cost of studying at universities has been rising for years, making it more challenging for students to afford quality education. Similarly, the cost of healthcare has been increasing despite advancements in medical technology, making it harder for people to access basic healthcare services.

Inflation also affects businesses, especially those producing goods and services. The cost of raw materials, production, and transportation of goods and services will increase significantly, leading to the rise of prices. As a result, this puts an enormous financial burden on both businesses and consumers. Therefore, businesses are forced to increase the price of their products, which affects the consumers’ purchasing power.

The only way to reduce the adverse effect of inflation is through the implementation of monetary and fiscal policies. Governments can control inflation by decreasing the amount of money in circulation, reducing demand for goods and services, and controlling the interest rates. As individuals, we can also reduce our expenses, live within our means, save, and invest our money to reduce the effect of inflation on our financial future.

In conclusion, inflation is a significant economic problem that can lead to increased prices of goods and services in the future. The effect of inflation can be felt by both consumers and businesses, leading to a significant rise in the cost of living, reducing buying power, and financial instability. It is, therefore, crucial for governments to implement the necessary policies to control inflation to ensure a stable economy for the future.