The good news is inflation is not rising as rapidly as it was the last couple of years. The bad news is prices are still going UP, just not as quickly. So, even though many of those inflation curves in the graph are flattening, it unfortunately doesn’t mean prices are going back anywhere close to 2020 levels.
The graph shows the percent change in prices of goods and services over the last five years. We are showing G7 nations, so many countries are not included. As cool as it would be to fit all 190+ counties in one graph, that might be a little MUCH for an Instagram post.
For those living in the US, we know that inflation has been high the last few years. But when you look around the globe, you’ll notice that we are not alone.
Where does all this talk about inflation leave you? The same rules apply as always. Focus on what is in your control. Spend less money than you make and consistently invest as much as you can each month. Keep enough cash to cover an emergency. Invest the rest! If you do all of this you will build wealth over time no matter what is happening with inflation.
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.
-Vivi & Shane
