Question

How does the inflation affect the standard of living​

Answer 1

Step-by-step explanation:

Inflation affects your standard of living because it can reduce your spending power. Retirees are often greatly affected by inflation because many retirees live on a fixed income.

Answer 2

Inflation affects your standard of living because it can reduce your spending power. Retirees are often greatly affected by inflation because many retirees live on a fixed income.

Explanation

Consequently, their disposable income is reduced as day-to-day expenses consume an ever growing portion of their income.