The economy is currently experiencing the detrimental effects of inflation, with prices rising at an alarming rate and eroding the purchasing power of consumers. This has led to a decrease in real wages, making it harder for individuals and families to make ends meet. Businesses are also feeling the impact, as their costs increase and they are forced to raise prices in order to maintain profitability. Overall, inflation is creating uncertainty and instability in the economy, making it difficult for businesses and consumers to plan for the future.

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