When we think of inflation, we usually think of the cost of food and gasoline. Some of us may think of the cost of rent, college or housing. Economists will focus on wage growth.
The U.S. and world economies are currently experiencing a period of abrupt inflation. As shown in the chart below, the annual CPI rate as calculated by the U.S. Bureau of Labor Statistics has reached 6.2%. The usual range for the CPI is around 2%.
Less official sources cite inflation rates that are even higher. I won't try to figure out what the actual inflation rate is or how temporary our current round of inflation will be. If you would like to learn more about the economy, you can reach me on Twitter or on my blog at InvestorGeeks.
In this post, I want to focus on how inflation affects our customers. The focus may be on gas and groceries, but there is also inflation in software and membership dues.
Author: Jason Coleman
paidmembershipspro.com
