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Article Id - IJM_13_09_001, Pages : 1-13, Date of Publication : 12, September 2022
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Abstract
Inflation is usually part of any complete economic cycle recession would be followed by expansion, after reaching the peak. However, this growth-driven economic cycle could bring a devastating impact on the poor if the mechanism of inflation is not realized and proactively prepared for by the concerned community leaders, including governments. Therefore, in this research, we review all the theories that lead to inflammatory inflation impact and study how to mitigate its impact.
The paper explores what inflation does to the poor, so that the poverty elimination efforts continue without disruption. The importance of tools as the cost of a ‘basket of goods’ for the poor are reviewed along with the possible social welfare system which might protect the status of the poor from getting poorer.
The researcher proposes solutions to alleviate the impact of inflation on the poor, starting with troubleshooting inflation causalities and how it could be mitigated in poor neighbourhoods. Alternative solutions for mitigating inflation risks on the poor are one of the main implications of this work which concludes with a proposed generic framework that could mitigate the inflation risks on the poor.
Keywords
Inflation, The Poor, Poverty, Difficult Times, Economic Instability
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References
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