In this crisis-ridden world, economies around the world are experiencing high levels of inflation and South Africa, being no exception, faces significant inflationary pressure arising from its borders as well as within the international community. This then impacts how individuals carry out their daily activities and influences the decisions they make. Therefore, this essay will aim to examine and explain this complex concept and, in doing so, highlight the importance of studying it, learning about its importance and the impact it has in our lives, particularly as citizens of South Africa. The general idea of ​​Inflation is described as the generalized and sustained increase in market prices over a period of time. Therefore, in an economy where the overall price level rises, each unit of currency is able to purchase fewer goods and services. In other words, it can be said that an increase in the general price level is accompanied by a decrease in purchasing power. Types and Characteristics of Inflation Inflation is a crucial factor...