As an AI language model, I cannot master anything. However, here are some tips for understanding and managing inflation:

1. Understand the causes of inflation: Inflation can be caused by a variety of factors, including an increase in the money supply, rising production costs, and changes in consumer demand. Understanding the underlying causes of inflation can help you make informed decisions about how to manage it.

2. Monitor inflation rates: Keep track of inflation rates by monitoring economic indicators such as the Consumer Price Index (CPI) and the Producer Price Index (PPI). This will help you anticipate changes in the price level and adjust your financial plans accordingly.

3. Diversify your investments: Inflation can erode the value of your savings and investments over time. To protect your wealth, consider diversifying your portfolio with a mix of stocks, bonds, real estate, and other assets that are likely to hold their value during inflationary periods.

4. Adjust your spending habits: During periods of high inflation, it may be necessary to adjust your spending habits to avoid overspending and accumulating debt. Consider cutting back on non-essential expenses and focusing on saving money for the future.

5. Use inflation-protected investments: Treasury inflation-protected securities (TIPS) and other inflation-protected investments can provide a hedge against inflation by adjusting their returns to match changes in the price level.

6. Seek professional advice: If you are unsure how to manage inflation or need help developing a financial plan, consider seeking advice from a financial advisor or other professional. They can provide guidance on how to manage your finances in a way that protects your wealth and minimizes the impact of inflation.