The Consumer Price Index (CPI) rose 5.4% in July 2021 compared to July 2020 as this publication of the Bureau of Labor Statistics shows. This represents a value similar to the one for June 2021, which was the fastest rise since August 2008.
The main drivers of this rise have been the price of used vehicles, and energy. There is more evidence that this may represent a longer term tendency.
This is the official inflation rate. However, there are other calculations, specially the ones using the methodology prior to the 1980's, which show higher inflation rates. For a view at these rates take a look here.
Previous posts regarding the inflation rate
This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.
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