Money·1 min read

How Inflation Affects Your Wallet

December 9, 2021

More is usually better, except when it comes to inflation. Prices are surging as we head into the holiday season. That means you can expect to pay more for a lot of things from airfare and hotels to rent, food and gas. And it’s probably not going away anytime soon.

Inflation 一 known as the rise in cost of everyday items 一  jumped 6.2% in October, the fastest surge in 31 years. 

Which means the money you have gets you less 一 so your morning cup of coffee that used to cost $3 might cost you closer to $3.20. That can add up across your budget.

Inflation happens for a few reasons. Labor shortages, increased demand and supply chain constraints are making it harder for items to go from point A to point B. Like a bottleneck.

So what’s the skimm? For now, prices are up, and your wallet might feel lighter. Experts say 'expect more of the same for a while.' So make sure your budget is ready.

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