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“To adjust for inflation, one can use a Consumer Price Index (CPI) calculator to determine the current value of a certain amount of money from a previous year. Additionally, adjusting investments or income to account for the effects of inflation can also help maintain purchasing power over time.”
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.