Sticker shock at the grocery store? Price hikes at the pumps? Prices are going up and spending more for basics can be startling. Do you remember the first time you noticed prices increasing? It often happens so gradually that we don’t even notice.
Inflation is often more complicated than we realize and it’ll be with us for the rest of our lives. So, what could prices look like in 2030? It will impact:
- Housing
- Food & Beverage
- Healthcare
- Gas & Transportation
- College
Inflation affects far more than upfront prices. It shakes up the costs of doing business and borrowing money. And it can affect savings, bonds, and plans for the future. We often don’t notice these changes year to year, though. That’s because inflation comes in small doses. A few bucks more here, a couple hundred more there — it creeps up over time. And it’s the reason why inflation has a well-deserved reputation as a “silent killer.”
Still, like many things in life and finance, inflation isn’t all bad. When steady and predictable, a moderate amount can be good as it can signal a healthy, growing economy. Inflation causes problems when it increases suddenly and rapidly. Or when folks haven’t planned for future price increases.
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