Hyperinflation can be extremely harmful to consumers, but deflation is also considered undesirable by economists. The causes of inflation – and how severely the factors that trigger inflation affect consumers – vary and have undergone much debate among economists historically.
The existence of inflation itself, however, is expected.
“Inflation is normal,” says Brian O’Leary, wealth advisor and senior analyst at ALINE Wealth. “We don’t have to fear the fact that inflation exists, and in fact, it is healthy in the economy. The issue becomes what amount of inflation is appropriate.”