Page 11 - The Other Side of The Mountain October 2018
P. 11
Inflation impacts every dollar you spend!
"I continue to believe that the American people have a love-hate
relationship with inflation. They hate inflation but love everything
that causes it." William E. Simon former Secretary of the Treasury
USA today published a small sample of expenses growing faster
than inflation. These directly impact your retirement budget.
Source: Selena Maranjian, The Motley Fool.
Prescription Drugs
An AARP study reported the price
for an AARP-selected basket of
widely used prescription drugs rose
from $4,140 in 2005 to $11,341 in
2013, an average annual increase of
13.4% and a total jump of 174%. In
2015 alone, it jumped 15.5% --
nearly 7.2 times the rate of inflation!
Gasoline
The U.S. Energy Information Administration
calculated that inflation averaged 2.1% for
the past two decades while the cost of price
of gas rose by an average of 3.4%. This is
enough to almost double your cost of
gasoline.
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