Inflation and the Consumer Price Index: How They Work and How They Affect You

Rising prices have been the big economic story of post-vaccine America, and inflation has evolved from a nagging nuisance to the most severe decline in the dollar’s buying power in more than 30 years. New clothes cost 6.8% more than they did 12 months ago. Used vehicles are up by 35.3%, airline fair is up by 23.6% and, perhaps most unforgivably, gasoline costs 48% more than it did last year. Learn: Surprising Things You Can Buy With Food StampsRead More: Rising Gas Prices: The True Cost of Going Electric So, how do we know all this right down to the…

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