Inflation erodes the value of fiat money from "summary" of The Fiat Standard by Saifedean Ammous
The insidious nature of inflation is perhaps best understood when considering its effect on the value of fiat money. Inflation, by its very definition, refers to the increase in prices of goods and services over time. This means that as inflation rises, the purchasing power of fiat money decreases. In other words, the same amount of money will buy you less today than it would have in the past. This erosion of value is a direct result of the increase in the money supply. When central banks print more money, they essentially dilute the value of each individual unit of currency in circulation. This has a cascading effect on prices, as businesses adjust their prices to compensate for the reduced purch...
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