What was the effect of inflation on the industry's and its workers?

Inflation typically leads to increased costs for raw materials and production, impacting the overall profitability of industries. As prices rise, companies may struggle to maintain margins, potentially resulting in layoffs or reduced hiring. For workers, inflation erodes purchasing power, making it harder to afford everyday goods and services, which can lead to demands for higher wages. This dynamic can create tension between employers and employees, as businesses aim to control costs while workers seek to protect their living standards.