Why corporations are reaping record profits with inflation on the rise | PBS NewsHour
Inflation 📍
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What life was like in early-1980s America …
- In October 1981, the average rate for a 30-year fixed-rate mortgage in America was 18.61 percent.
- In August 1982, the average new car loan was 17.82 percent.
At 18.61 percent interest, a $100,000 loan paid over 15 years would involve paying $298,332 in principal and interest. Paid out over 30 years, that would be $461,679.21 in principal and interest. But that ignores inflation or refinancing, which makes those numbers seem less absurd.
How to protect your money during inflation, according to 8 financial planners | Fortune
are wondering how to keep rising prices from negatively affecting their savings and spending habits.
Prices on consumer goods and services including food, energy, and housing have been rising for the past few months. They jumped again in November, rising to 6.8% over the previous year, according to the latest consumer price index data released Friday.
Along with rising prices this year, there have also been supply-chain bottlenecks and rising consumer demand—all of which can cause real challenges as the average American’s purchasing power degrades over time.
While the effects of inflation are not easily avoided, several financial planners tell Fortune that there are steps consumers can take to duck the worst effects.