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Value of a person's ₹1-crore savings today would automatically reduce to just ₹25.84 lakh in 20 years due to inflation. According to Moneycontrol, a 7% average annual inflation rate would reduce savings' value by 74%. This is because inflation causes rise in prices of goods, which thereby reduces amount of a particular good a certain amount of money can buy.
short by Ashley Paul / 09:11 pm on 22 Jun
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