Answer:
Inflation is when the prices of goods and services go up over time. This means that the same amount of money you had before can now buy less stuff. Inflation can happen for a lot of reasons, like if there's too much money in circulation or if the cost of making things goes up.
Inflation can affect my life today because it means I might have to pay more money for things than I used to. For example, if a gallon of milk used to cost $3 but now costs $5 because of inflation, then I will either have to spend more money on milk or buy less of it. This can be a problem if I have a limited budget or if I really need certain things to live. Additionally, inflation can make it harder for people to save money because the value of their savings may decrease over time.