If people’s incomes do not rise with inflation then ?
they will have less to spend , causes a fall in living standards.
Those who are in debt?
able to pay it off at a price which is of cheaper value, but those who are owed money lose because the money they get back is of cheaper value. Consumers who have saved will lose out as their money is worth less.
what does inflation do for consumers?
Fall in real income for those on fixed incomes/pension
