Give a response back to this post: A) The product I chose to examine that I buy regularly is steak or specifically sirloin. In 1995 the average price of sirloin was $4.01 and in 2024 the average price ranges around $11.95 which indicates that inflation price using the inflation calculator has increased it by $7.91. Inflation affects the economy by dwindling the buying power of currency. As prices rise it affects people who have fixed wages and can affect the standard of living as they have to budget and learn to shop for alternatives to get the closest thing to product they prefer. Inflation has affected me in pretty much all aspects from a daily perspective. Rent, food, and pretty much all consumer goods have gone up and with having a fixed wage myself you have to learn to squeeze out every cent to make it till next payday. B) To me inflation doesn't affect one group more than others, I believe we all feel it the same from fixed wages, renters, or even small business owners The standard of living is going to decrease for fixed income and landlords can up the prices to match inflation making it difficult