It seems like everything is always going up in price. Is that because of corporate monopolies or something? Do costs of living get higher as a society becomes more industrialized/advanced?
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Central banks can manipulate interest rates which affects how much people, businesses, and governments are spending, since it makes borrowing easier, which generally controls how much inflation there is. They typically target having a small amount of inflation since it is believed to be optimal for the economy. Though it tends to leave low earners behind as many necessities like housing end up inflating higher than the CPI rate and the wages don’t quite keep up.
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