Answer:
Groups hurt by inflation: Fixed Salary Earners and Pensioners, Creditors and Savers.
Explanation:
Inflation refers to a quantitative measure of a rate at which a basket of selected goods and services’ average price level in an economy up rises over some time period. Inflation is indicative of a rise in general price level wherein a single currency unit buys less than what it did formerly. Expressed in percentage, inflation is indicative of a decline in the national currency’s purchasing power.
GROUPS HURT BY INFLATION
Fixed Salary Earners: Their real income is eroded by inflation.
Creditors: When loan is repaid, its purchasing power is reduced.
Savers: This group is most hurt since the official nominal interest of the bank cannot resist the real rate of interest (inflation rate).
