Businesses are generating lower revenues due to the pervasively arising global pandemic. The inflation attacks businesses by eroding purchasing power and raising interest rates. Businesses like wholesale trade, construction, accommodation, and food, etc are critically impacted by rising inflation.
As we know that Information Technology is a recent development and the process of evolution has been gradual. Along with the evolution of computers, the IT field has simultaneously evolved. IT industry has witnessed tremendous changes of series of deflation and inflation. In this blog, we will discuss about various aspects of the inflation in detail. Let us start with the understating the meaning of it.
The energy resources such as gas, electricity, and coal prices have reached to the highest levels in the previous decades. The price fluctuation depends upon parameters such as demand, supply, quality of product, etc. In fact, these prices are interdependent, for example, factors that influence electricity prices are fuels, power plant costs, distribution and transmission systems, weather conditions, and other government regulations.