By Leanna Kelly We’ve all had a parent or grandparent lament about the cost of different products from their childhood. When they talk about how everything was so much cheaper decades ago, they’re describing inflation: an increase in the price of goods and services and a decrease in the purchasing value of money. These products aren’t as cheap because the dollar doesn’t go as far as it once did.
Inflation is both a burdensome prospect and a good thing for the economy (in moderation). While the purchasing power of a dollar might fall each year due to inflation, it also stimulates economic production …read more
