According to Investopedia, inflation, measured by the consumer price index is the rate at which the general level of prices for goods and services is rising, and consequently the purchasing power of currency is falling.
According to the Department of Labor, the consumer price index was up 2.3% in 2019. For the decade of the 2010s, inflation was up just 1.8%, which is the lowest decade of inflation in the United States since the 1930s.
By comparison, the decade of the 1970s suffered an increase of 7.4% annual inflation during the entire decade of the ’70s.
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