Living standards in the context of rising prices, Inna Konoshonok (Belarus)

The standard of living of the population is characterised not only by the amount of income per capita, but also by the ability to meet the needs at the expense of this income, i.e. the volume of consumption of goods and services.Growth of prices undoubtedly reduces the purchasing power of monetary income and leads to a deterioration in living standards. At the same time, high inflation affects the rich and the poor differently. It particularly affects low-income groups. In order to support the most vulnerable segments of the population during the period of rising prices, the state applies various instruments aimed at mitigating the effects of increased inflation (indexation of wages, social payments and benefits, discounts on socially important goods, etc.).The presentation provides an assessment of the impact of inflationary processes on the living standards of the population.