The ‘Inflation Tax’. Making us poorer every day?

Thursday blog

I thought readers might find this chart from The Visual Capitalist interesting. It shows how the value of $100 has fallen by country since 2019 due to inflation:

(Click on the image to see the full table)

In Britain, the value of your money has fallen by over 23% since 2019. This is a greater loss than Southern European countries like Italy, Portugal, Greece and Spain which we used to view as economic basket cases.

I hope your salary or savings or pension have increased by at least 23% over the last 6 years and 3 months, otherwise the ‘Inflation Tax’ has been making you poorer.