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Inflation accounting, also called price level accounting, is similar to converting financial statements into another currency using an exchange rate. Under some (not all) inflation accounting models, historical costs are converted to price-level adjusted costs using general or specific price indexes.
– Examples where inflation has eased, ranked by the size of the change: Passenger travel by air: August up 11.9%, September down 5.0% Olive oil: Aug up 40.8%, Sep up 33.0%
When measured in shorter time frames, inflation is slowing: In December, core prices ticked up 0.2% from the previous month, a pace that is nearly consistent with the Fed's annual target.
But if you want to remain in the middle class, your income will have to rise over time, due to the effects of inflation. A real-world example can make this reality crystal clear.
Inflation can lead to massive demonstrations and revolutions. For example, inflation and in particular food inflation is considered one of the main reasons that caused the 2010–2011 Tunisian revolution [112] and the 2011 Egyptian revolution, [113] according to many observers including Robert Zoellick, [114] president of the World Bank.
The national consumer price index rose 6.2 percent from October 2020 to October 2021. That's the largest 12-month increase since 1990, according to the Bureau of Labor Statistics.
Headline inflation accelerated as expected in December, while core inflation, which strips out more volatile food and energy prices, rose 3.2% year over year, according to the Bureau of Labor ...
Annual inflation ticked up for a third straight month in December as food, energy costs rose, CPI report showed. But underlying price measure eased. Inflation rose to 5-month high in December.