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Essay text:
On one hand, companies need to price their goods relatively high to cover increasing cost of raw materials. But at the same time, employees are demanding pay rose since commodities prices are increasing. If the companies increase their employee’s wages, they need to increase the price of their products again, leading to higher prices in commodities. This interlocking effect is the work of inflation and if a country is not cautious, their economy can be severely damaged. In a way, inflation affects everyone living in this world and in today’s economy, not everyone has the same income and purchasing power...
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