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Post by the Scribe on Jun 4, 2022 8:56:23 GMT
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Post by the Scribe on Jun 4, 2022 8:57:16 GMT
About Inflation
What is inflation? Inflation is a measure of how prices change over time. The U.S. Bureau of Labor Statistics (a part of the U.S. Department of Labor) selects a "basket of goods," which is a collection of many goods and services that are commonly used by consumers. Every month, the prices of these goods are measured and compared to previous prices.
Use the inflation calculator form as a starting point for answering questions that you have about the historical inflation rate in the U.S. This calculator allows you to "correct for inflation". You can also learn about inflation for the UK, Canada, Australia, and Europe.
Compared to last year's annual rate, the inflation rate in 2022 is now 8.26%1. If this number holds, $100 today would be equivalent to $108.26 next year.
Go to the current inflation page for a more detailed, month-to-month view of official inflation rates, or test assumptions to predict future inflation. www.officialdata.org/current-inflation-rate
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