Inflation is insidious, sucking the life out of the finances of individuals, families and nations. The June 2022 inflation rate in the United States was 9.1%, the highest monthly inflation rate since November 1981. The highest inflation rate was recorded in April 1980 at 14.76%. We haven’t reached that point — yet.
Consider how inflation causes the value of the U.S. dollar to decrease in value. This is why it’s becoming more difficult for families to make ends meet — their paychecks just don’t buy what they used to. Here is how inflation has devalued U.S. currency —
