Once consumers recognize that a period of inflation has begun, there is generally an increase in consumer spending  This increase can be readily explained by consumers' desire not to postpone purchases that will surely increase in price
But during protracted periods of inflation, consumers eventually begin to put off making even routine purchases, despite the fact that consumers continue to expect prices to rise and despite the fact that salaries also rise during inflationary periods
Consumers' purchasing power decreases during periods of protracted inflation since salaries do not keep pace with prices.