Can you see inflation in day to day life? Before answering, think about how many older people you've ever heard say "back in my day, milk used to cost [smaller amount]!" What can we do to safeguard ourselves against inflation?

Yes, I can see inflation in day to day life. The inflation can be noticed in practice the easiest when we go shopping, especially for numerous goods, and when we pay attention to the prices. Whenever a price goes up of some good, while in meantime the wages of the people remain the same, we have inflation.

I do hear elderly people constantly saying that back in the day everything was much cheaper, but even if that wasn't the case, I personally recall the significant changes in the past 20 years in my country (Macedonia). When I was little for example, I remember a pastry called gjevrek, or an ice cream in cone, cost 5 MKD each. Over time the prices were going up, so nowadays the same pastry costs 15 MKD, while the ice cream in cone is 20 MKD, so it is easy to see the increase in price. It has to be taken in account though that the wages of the people have also been increasing, and the rate of increase of the wages has been pretty much following the rate of increase of the prices of the goods, so the inflation has actually been very small, 2-3%, which is actually a healthy inflation.

In order for the inflation to be kept under control, the economy has to be constantly growing. The production of goods needs to be on the rise, and the amount of money in the economy to also be on the rise. The prices of most of the goods will go up, but with the economy growing it will be balanced and there will be no problem.