Briefly summarize the below. (20 to 30 words) Information: Inflation refers to the increase in general price levels of goods and services over a period. It reduces the purchasing power of money, which can have significant impacts on businesses. For example, companies may experience increased production costs due to higher prices for raw materials, labor, and other inputs. As inflation increases, customers become more cautious with their spending habits because they know that their money will not go as far as it used to. This phenomenon results in reduced demand for products or services offered by businesses, leading to declining sales revenue. Moreover, inflation creates uncertainty about future economic conditions making it difficult for companies to plan investments and forecast profitability accurately. Businesses must continually adapt their strategies depending on market trends caused by inflationary pressures