your Purchasing Power
The money you spend is affected by inflation. Inflation causes prices to rise and erodes the value of money, taking away purchasing power. As a consumer, however, you still have some power. Consumers help set prices when they act in their own best interests by purchasing goods and services that meet their needs. Consumers also need to understand selling and buying strategies and use them to their advantage to increase their purchasing power. Finally, by being aware of consumer protection laws and agencies, consumers can seek protection against unfair selling practices that can affect their spending power negatively.