A short YouTube video by Ndubuisi 'Andy' Egwim explaining inflation and how it reduces the purchasing power of money over time. The speaker defines inflation in simple terms, notes common measures (e.g., consumer price index), advises that simply saving cash (e.g., in a piggy bank) erodes value, and cites Zimbabwe’s hyperinflation as an extreme example where currency rapidly lost value.
One key factor to consider is inflation. Now, in case you don't know what inflation is, look at our previous videos, a clean example. If you've had £1,000 in the past what you could buy several years ago, it's no longer what you can buy today. There are many measures that the consumer price index and other things that can be used to measure inflation. But the simple thing is that inflation is that the value of the money you have. So you look at the money over time. If you just save it and put it, let's say in a piggy bank and just leave it there, the value continues to go down. A very typical example is, I think it's an extreme example is Zimbabwe. A few years ago, Zimbabwe got to the point that the value, the value of the money was dropping almost every few weeks and months and get to the point, I needed almost a few billions to buy even a loaf of bread.
