Final answer:
Inflation that negatively affects those living on a fixed income.
Step-by-step explanation:
When inflation occurs, the general price level of goods and services rises, which decreases the purchasing power of money. This can have a negative impact on individuals living on a fixed income, such as retirees on Social Security benefits. Fixed income refers to a set amount of income that does not increase with inflation. As the prices of goods and services increase, individuals with a fixed income may find it more difficult to afford the same standard of living.