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Published On: Fri, Nov 20th, 2020

What Is Inflation And Why Does It Matter To The Fed — And You?

What is inflation, and why is it so important to the outlook for the economy and Federal Reserve interest-rate policy?




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You’ve probably noticed that prices for some things, like college tuition, prescription drugs and the rent for an apartment, reliably go up virtually every year. Prices of other things, like basic laptop computers, televisions and not-so-fashionable apparel have tended to fall over time.

The Labor Department’s consumer price index measures the overall change in the price of goods and services based on an average person’s budget. That assumes roughly 42% spent on housing, 14% on food, 9% on health care, 6% on energy — electricity, gas and fuel for your car, and so forth.

What Is Inflation?

Inflation is a general rise in the price of goods and services that erodes the value, or purchasing power, of the dollars in your wallet and bank account. The inflation rate is the percentage increase in prices over 12 months. The 2.3% rise in the consumer price index in 2019 Read Full Article

Source: Economy – IBD

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