Current Inflation - positive and negatives.?

Question

Can any one tell me the positive and negatives of the current inflation int he world, especially in India?

Answer 1

People in debt are paying back a loan with current inflated dollars relative to when the loan was originated.

Answer 2

Inflation is great news if (a) you have debt and (b) your income is adjusting for inflation. Since it means you get to repay that debt with devalued dollars.

The bad news is that it hurts lenders who hold your debt. To counter act that effect, they increase borrowing costs to hedge against inflation.