The Money Farm Team

Because of rising inflation, Social Security recipients are receiving the biggest cost-of-living increase in decades. The rise of 5.9% went into effect in January. When are Social Security benefits adjusted for inflation? After receiving your income information from tax records, the Social Security Administration recalculates your retirement benefit each year. (Employers submit W-2s to Social […]

As a result, we sought advice from experts on how consumers should approach investing and saving during this period of rising inflation. Invest wisely in your company’s retirement plan as well as a brokerage account. How will you protect yourself against inflation in 2021? If rising inflation persists, it will almost certainly lead to higher

Venezuela has the world’s highest inflation rate, with a rate that has risen past one million percent in recent years. Prices in Venezuela have fluctuated so quickly at times that retailers have ceased posting price tags on items and instead urged consumers to just ask employees how much each item cost that day. Hyperinflation is

The term “inflation tax” does not refer to a legal tax paid to the government; rather, it refers to the penalty for retaining currency during a period of high inflation. When the government produces more money or lowers interest rates, it floods the market with cash, causing long-term inflation. Who is responsible for the inflation

They claim supply chain challenges, growing demand, production costs, and large swathes of relief funding all have a part, although politicians tends to blame the supply chain or the $1.9 trillion American Rescue Plan Act of 2021 as the main reasons. A more apolitical perspective would say that everyone has a role to play in

Inflation, or the gradual increase in the price of goods and services over time, has a variety of positive and negative consequences. Inflation reduces purchasing power, or the amount of something that can be bought with money. Because inflation reduces the purchasing power of currency, customers are encouraged to spend and store up on products