To hear the talking heads tell it, there’s no inflation out there. And with the price of oil (and therefore gasoline) in a tailspin, inflation looks like the last thing anyone should be worried about. But long-term numbers tell a very different story.
According the Bureau of Labor Statistics Inflation Calculator, prices have roughly doubled in the last 25 years. It now takes $1,915 to buy what $1,000 bought in 1989. That works out to an average annual inflation rate of roughly 3%.
It’s also important ...
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