While central banks are focusing on creating more stimulus and economists expect inflation in the U.S. to rise, a number of other countries are suffering from considerable inflation right now. On Monday, the chief strategy officer for the Human Rights Foundation, Alex Gladstein, explained that 1.2 billion global citizens are living under inflation rates as high as two to three-digits.
Inflation: The Silent Killer of an Individual’s Purchasing Power
During the last week, a number of analysts and economists have been discussing the possible inflation rise coming to the U.S., mostly because of the massive amounts of stimulus created in 2020 and 2021. It has led economists to believe that inflation is coming to the U.S. soon, as the Federal Reserve is backed into a corner with plans to keep the easy-money schemes going strong.
Inflation is the depletion of a currency’s purchasing power paired against goods and services over time. Inflation can be measured by observing the currency’s purchasing power over a period of recorded time.
For instance, an inflation calculator will tell an American how much the U.S. dollar’s purchasing power has lost since 1913, the very year the Federal Reserve was created. According to data, if a person spent $20 on an item back in 1913, the same service, product, or item will cost $528.45 today.
That’s a cumulative rate of inflation of 2542.2% over the course of 107 years. But the U.S. inflation rate per annum is allegedly only 1.50%, according to 2021 data stemming from worldpopulationreview.com. The UK’s inflation rate is roughly the same as the United States according to current stats as well.
Alex Gladstein: ‘1.2 Billion People Live in Countries Experiencing from Double or Triple-Digit Inflation’
The rate of inflation in the U.S. is paltry compared to many other countries worldwide. The chief strategy officer for the Human Rights Foundation, Alex Gladstein highlighted this issue…