What Is Causing Inflation and How Does It Affect Your VacatioN?
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What Is Inflation
The simple definition of inflation is the rate of price increases over time, causing a loss of purchasing power and increased living costs.
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Inflation is usually reported as an index value relative to the past year affecting an entire country’s economy
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In the United States, it is measured by the Consumer Price Index (CPI) or Personal Consumption Expenditures (PCE) Price Index.
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Inflation rises if production costs rise and are passed on to the consumer. This often occurs for packaged food items, like breakfast cereals.
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If prices increase, workers demand higher salaries to maintain living standards, and again, inflation increases.
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FIND OUT WHAT IS CAUSING INFLATION AND HOW IT AFFECTS YOU
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