Inflation: Where Did My Money Go? (Part 1) General Finances
By hiveup, 10th July 2018
Before ending the week, my colleague and I decided to try the ice cream machine outside our office here at Hive Up. Overpriced frozen ice.
We had this conversation about the price of a Mcdonald’s ice-cream cone over the years. A little over a decade ago, you could get it for 25 cents. Who even uses 5 cents these days?
The size and same yummy taste has remained the same over the years, but the price of the cone has increased. Why is this so?
What is inflation?
Inflation is the increase in price of goods and services in an economy over a period of time, consequently, the purchasing power of the currency decreases.
The Consumer Price Index (CPI) is widely used to measure inflation. CPI is a statistical estimate constructed using the prices of …