What’s a Personal Inflation Rate?
The CPI, or the consumer price index, is how the government measures the overall change in prices over time based on a basket of both goods and services. It’s the most widely used measure of inflation and it’s the one you hear reported in the news.
But while general trends capture headlines, financial planning is about more than trends and headlines. It’s about the specific effects that trends have on each person’s individual situation and goals. Your personal inflation rate is how much rising prices are actually impacting you and your lifestyle based on your spending and your purchases year to year.
Statistics: Posted by retireIn2020 — Fri Oct 11, 2024 12:05 am