Compare the role of inflation with money and the real earning of the Industrial workers.Use appropriate data to justify your answer?

In economics inflation means general rise in prices of
goods and services in an economy over a period. The rise in prices may be different for
different items of goods and services. Therefore to assess the overall extent of
inflation the average price increase in the prices is calculated. This average rate of
inflation is usually expressed as percentage increase in prices per year. Thus average
price increase of 2 percent for a quarter will be expressed as 8 percent rate of
inflation for the quarter.

The effect of inflation can also
be seen as a reduction in value or purchasing power of money. Thus for a given amount of
disposable income the inflation reduces the amount of goods and services that the person
can purchase with the given income. In other words, inflation reduces the real income of
people in the economy.

This reduction in purchasing power
of money or of real earning of people, for a given level of inflation is same for all
classes of people including industrial workers. However, since people from different
classes may buy different baskets of goods and services, it is possible for the
applicable rate of inflation for a given period may be  different for different class of
people in the economy.