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What $100 is worth these days versus 3 years ago

What $100 buys you now vs. then


MoneyWatch: The Uncertain Economy: What $100 buys you now vs. then

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Red-hot inflation might lastly be exhibiting indicators of cooling, however across the U.S. the price of dwelling is nonetheless hovering. Consumer costs final month rose 8.5% from the identical time a year ago, the Labor Department reported final week. While that determine could also be decrease than economists anticipated, it represents one more flip of the screw for family budgets.

Exactly how a lot has our spending energy been diminished by inflation this year? These days, a greenback is worth about 86% of its worth three years ago, based on a web-based inflation calculator. That means an merchandise that price $100 in 2019 would price $115 at this time.


MoneyWatch: The Uncertain Economy: How to stretch your greenback on the grocery retailer

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In extra tangible phrases, which means spending $100 on brunch with a good friend in 2022 will get you one much less mimosa, or the equal of about $15 lower than it did in 2019. Going again even additional, $100 worth of spending within the year 2000 would now price $172. A $100 purchasing spree in 1980 would set you again a whopping $359 at at this time’s costs.

To make sure, a sure degree of inflation is a pure a part of financial development.

“The U.S. experiences inflation nearly every year, and has done so since the 1950s,” CBS News’ Errol Barnett stated. “So, it’s normal that the dollar has decreased in value over time.” 

What’s not regular is the presently extreme rate of inflation, which is greater than quadruple the Fed’s annual goal of two%. The challenge, Barnett added, is that “wages are not also consistently increasing to accommodate the fact that things are more expensive.”

“We really are noticing that more money is leaving our bank accounts than coming into it,” he stated.

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