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What is inflation?

Inflation is the generalized rise in prices: every year the same money buys a little less.

3% inflation means what costs $100 today will cost $103 in a year. Central banks usually target 2% a year: enough to lubricate the economy, not enough to erode it. The 2021–2023 period reminded the world what happens when it escapes control, with peaks above 10% in Europe.

For investors, inflation is the invisible enemy: cash sitting in an account loses purchasing power every year. Historically stocks and real estate have protected better than cash and fixed-rate bonds.

Concrete example

With 3% annual inflation, $10,000 left in an account for 20 years retains the purchasing power of about $5,500 today.

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Frequently asked questions

Who decides inflation?

No one directly: it emerges from demand, supply, wages, energy. Central banks influence it by raising or lowering interest rates.

How do I protect savings from inflation?

With real assets: stocks, global ETFs, real estate, and inflation-linked bonds.

Related terms

What are interest rates (and why do they move stocks)?What is the Fed (Federal Reserve)?What is an investment return?