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Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently purchasing power is falling. The inflation rate is typically measured as an annual percentage increase. The actual inflation rate can vary significantly from year to year and is affected by a variety of economic and political factors. To find out the current inflation rate, you can check the website of the country’s central bank or the Bureau of Labor Statistics in the US.
The effects of inflation are often not directly felt but are played out over a long time, especially long-term investments are vulnerable to inflation.
At Horizon65, we created a mobile app that enabled you to check the effect of inflation on your savings.
Download our app and start gaining insight into your current and future finances.
Horizon65 for iPhone
Horizon65 for Android