More Hard Core Data on Inflation
Okay, here are some interesting data points with clear-cut inflation. What was the news headline that caught my attention during some early morning reading?
"Banking Fees Reach Record Highs"
Oh, how nice!
In research from BankRate, Inc. reported today, banking fees have reached all-time highs in several areas, including ATM surcharges ($1.78 up from $1.64), bounced check fees $28.32 up from $27.40), and monthly service fees on interest checking accounts ($11.72 up from $10.74).
Ask yourself this? How do those price increases help your own saving and/or consumption?
That is the deleterious effect of inflation. It not only allows you to save less and it also eats up money for you to spend (slows national consumption).
As you hear the media pundits chatter about whether or not inflation is rising just look around at what you spend money on every day, what the hard core data says, and the truth will be apparent.
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