Planning for Retirement: 5 Smart Savings Strategies When Inflation Looms Ahead

Planning for Retirement: 5 Smart Savings Strategies When Inflation Looms Ahead
The reason many folks are financially independent is because they live understated lifestyles. Alliance Images/Shutterstock
Rachel Hartman
Updated:
The Consumer Price Index (CPI) is often used as a standard way to follow inflation. It measures the average change in prices from one year to the next. When the CPI increases, it’s a sign that overall living costs are on the rise. In May, the CPI for all items increased 5 percent before seasonal adjustment, according to the Bureau of Labor Statistics (pdf).

Besides the CPI, “real inflation can be seen at the grocery store, car lots, home prices, and just about everywhere,” says Denny Artache, certified Social Security claiming strategist and financial adviser with Peak Brokerage Services, LLC.

Rachel Hartman
Rachel Hartman
Business Reporter
Rachel Hartman is a freelance writer with a background in business and finance. Her work has appeared in national and international publications for more than 10 years. She resides in Miami and travels frequently.
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