Listening Time: English Practice cover image

Listening Time: English Practice

English Listening - Inflation

Sep 25, 2023
The podcast explores the causes and effects of inflation, highlighting the relationship between currency and inflation. It discusses the impact of inflation on prices and purchasing power, and the actions individuals take during periods of high inflation.
32:29

Podcast summary created with Snipd AI

Quick takeaways

  • Inflation reduces the value of wages and makes it harder for people to afford things.
  • During periods of high inflation, people take actions such as exchanging currency for more stable currencies and investing in assets to mitigate its impact.

Deep dives

Overview of Inflation

Inflation refers to an increase in prices and a fall in purchasing power. When there is inflation, your money can buy less stuff. In recent years, many countries have experienced high inflation, impacting economies and people's lives. The causes of inflation can come from both the demand and supply sides. If there are more currency units without a significant increase in the production of goods and services, prices will rise. For example, an increase in the money supply without a corresponding increase in production can lead to higher prices. Deflation, on the other hand, encourages saving and can result in less investment since prices are going down. High inflation reduces the value of wages and makes it harder for people to afford things. Some countries facing high inflation currently include Venezuela, Lebanon, Argentina, and Turkey. During periods of high inflation or hyperinflation, people try to exchange their money for a more stable currency or precious metals, invest in assets that grow faster than inflation, and buy things earlier to avoid higher prices in the future. In extreme cases, people might leave their countries in search of more stable situations.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode