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The public research budget was frozen when the coalition came to power in 2010, but inflation has eroded its value by 10% since.
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Oil is priced in dollars, but OPEC's members trade with Europe in euros; the dollar's recent fall in value against the euro has eroded its purchasing power in Europe.
The euro since has eroded to its lowest value in more than a decade, about ¥95.
I think art should be accessible to as many people as possible, but I don't think the fact that so many people have bought this photo erodes its value.
Inflation has eroded the value of the exemption for dependents.
We have been too reliant on promotions which has eroded our value credentials".
With interest rates pinned to the floor for five years, inflation has eroded the value of these savings.
The problem is not just that inflation has eroded the value of the fee, says Andy Marsh of Hampshire Constabulary.
But the cost of petrol has eroded the value of such homes - savings on a house no longer compensate for the price of long daily drives.
Inflation has eroded the value of $1 million considerably, and as Mr. Luxenberg noted, "Three percent inflation over 30 years means you need 2.4 dollars for every dollar that you'd need now".
It acknowledged UK families on low incomes "have been hit disproportionately hard" by rising living costs and this has eroded the value of their income.
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