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Inflation
Personal
WHAT IS IT?
Inflation is a rise in the general level of prices over time.
IN PLAIN ENGLISH
Things can cost more in the future, so the same amount of money may buy less.
SIMPLE EXAMPLE
If something costs £100 today and prices rise over time, you may need more than £100 in the future to buy the same thing.
WHY DOES IT MATTER
Inflation matters when thinking about savings, investments, retirement and long-term goals.
THE ROCKET TEST
Inflation means prices generally rise over time, reducing what the same pound can buy.
SEE IT IN ACTION
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