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