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Article | 5 min |
If it feels like your dollar doesn’t go quite as far as it used to, you aren’t imagining it. The reason is inflation, which occurs when prices rise across the economy which decreases the purchasing power of your money over time. Over the past year, hopes inflation was starting to level off, the Labor Department reported the Consumer Price Index (CPI), a broad measure of everyday goods and services, in June soared even more than expected by its highest level since November 1981. The following are some general questions to help you better understand inflation, how it affects all aspects of the...