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'Inflation is Taking a Toll on The Dollar [Infographic]' by nowsourcing gold inflation
Inflation has always been present in the United States, but in recent years inflation has increased drastically. 2020 saw the pandemic enter globally which affected the economy greatly, but even two years after the onset inflation continues to rise., the fastest pace since 1981. All consumer prices are on the rise, with the food index increasing 11%, the energy index increasing 33%, and all other items increasing 6%.
In 2021, the US dollar depreciated greatly. In fact, the dollar depreciated 16% compared to the Mexican peso, 12% compared to the Canadian dollar, and 9% compared to the Euro. With mass printing continuing to lessen the value of paper money, and the cost of all goods continuing to rise, the US dollar is expected to only depreciate further. It is estimated that due to runaway inflation rates, $1 in 2022 will only equal about $.65 in 2030.
In the 2008-2012 recession, investors saw paper money losing its value and so they turned to gold. During this time gold saw a 101.1% surge in interest! Investors poured their money into gold which only increased its value over the years. History has a tendency to repeat itself, and investment advisors are expecting similar trends to occur during this period of runaway inflation.
To learn more about how gold has held its value over the years and how the impacts of inflation affect the value of money, take a look at the infographic below:
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