Peter Clark
@Peter.Clark · Updated 16 May. 2022

Inflation is a persistent increase in the prices of goods and services. It is a symptom of an economy that is growing too much, too fast. Even though we have recently been through a recession, the economy still needs to build up its strength, and this has caused inflation to rise. The Federal Reserve, our country’s central bank, has been trying to keep inflation in check by controlling the amount of money that is put into the economy. It’s been a while since we’ve seen the annual rate of inflation rise above the Federal Reserve’s 2% target. But in the last two months, the rate has been rising at an annualized rate of more than 3% for the first time in nearly three years. The last time we saw such a rapid increase in the inflation rate was in the middle of the Great Recession.

Rachael Davis
@Rachael.Davis · Posted 16 May. 2022

With inflation rising day by day, it’s hard to keep up with the rising costs of everything from groceries to gas. This will look at what causes inflation and how to best protect your money. Introduction Inflation is the measure of the rate of increase of the prices of goods and services in an economy or a country. The prices of goods and services are measured using a price index. The Consumer Price Index, which measures price changes for goods and services, rose by 0.2% in the last three months. That’s the largest increase since February 2022. The price of goods and services has been steadily increasing, and it has become harder and harder to save money.