{"id":57325,"date":"2023-07-31T19:48:10","date_gmt":"2023-07-31T19:48:10","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/understanding-inflation\/"},"modified":"2024-05-13T15:03:07","modified_gmt":"2024-05-13T19:03:07","slug":"understanding-inflation","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/understanding-inflation\/","title":{"rendered":"Understanding Inflation"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel pad-b-0 pad-t-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-6ba379fd wp-block-group-is-layout-constrained\">\n<p class=\"h3\">Inflation decreases your purchasing power as it increases the price of goods and services. Learn what you can do to get more from your money in a downturn economy.<\/p>\n<\/div>\n<\/div>\n<\/section>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-44db61f0-636b-4b00-afea-ccb542574fbf\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel pad-t-0 pad-b-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns mar-b-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column mar-r mob-mar-r-0 mob-mar-b-dbl is-layout-flow wp-block-column-is-layout-flow\">\n<article id=\"post-58148\" class=\"loop-post featured-vertical mob-pad-b-dbl post-58148 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-economy rbc_content_type-article rbc_lob_group-ways-to-bank rbc_difficulty_level-beginner rbc_mmm_category-economics-101 rbc_mmm_category-money-academy rbc_mmm_category-understanding-inflation\">\n\t<div class=\"col-wpr mar-b-0\">\n\t\t\t\t\t<div class=\"col-md-12 mar-b mob-mar-b-dbl\">\n\t\t\t\t<div \n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Red inflationary arrow rising up beside a miniature shopping cart\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"680\"\n\t\t\theight=\"453\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-14T141940.303.jpg?quality=80&#038;w=680\"\n\t\t\talt=\"Red inflationary arrow rising up beside a miniature shopping cart\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\tstyle=\"object-position: 50% 50%; \"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t<div class=\"col-md-12 mob-mar-t-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/economy\/\">\n\t\t\t\t\t\t\t<span>Economy<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/understanding-inflation\/budget-busters-the-impact-of-inflation-on-everyday-life\/\" class=\"h3 loop-post-title mar-t-0\">Budget Busters \u2014 The Impact of Inflation on Everyday Life<\/a>\n\t\t\t\t\t\t\t<p>Dealing with inflation is complex, but these tips can help your finances while prices remain high.<\/p>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/article>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-rbc-rbccom-latest-posts\">\n<article id=\"post-58160\" class=\"single-post-card-wrapper post-58160 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-budgeting rbc_content_type-article rbc_lob_group-ways-to-bank rbc_difficulty_level-beginner rbc_mmm_category-debt-stress-relief rbc_mmm_category-managing-expenses rbc_mmm_category-struggling-to-make-ends-meet\">\n  <div class=\"wp-block-rbc-single-post-card\">\n    <div class=\"latest-post-card\">\n      \t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/budgeting\/\">\n\t\t\t\t\t\t\t<span>Budgeting<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t              <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/managing-expenses\/navigating-inflationary-times-4-strategies-to-help-protect-your-finances\/\" class=\"h4 post-title mar-b-hlf mar-t-0 truncate-third-line\">Navigating Inflationary Times \u2014 4 Strategies to Help Protect Your Finances<\/a>\n                    <p class=\"post-description\">4 ways to help safeguard your finances against inflation.<\/p>\n          <\/div>\n  <\/div>\n<\/article>\n\n\n\n<article id=\"post-58190\" class=\"single-post-card-wrapper post-58190 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-question-of-the-week tag-tax-tips rbc_content_type-article rbc_lob_group-investments rbc_difficulty_level-beginner rbc_mmm_category-inspired-investor rbc_mmm_category-investing-academy\">\n  <div class=\"wp-block-rbc-single-post-card\">\n    <div class=\"latest-post-card\">\n      \t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/question-of-the-week\/\">\n\t\t\t\t\t\t\t<span>Question of the Week<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t              <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/can-registered-accounts-help-you-save-on-taxes-yes-heres-how\/\" class=\"h4 post-title mar-b-hlf mar-t-0 truncate-third-line\">Can Registered Accounts Help You Save on Taxes? Yes! Here&#8217;s how.<\/a>\n                    <p class=\"post-description\">Here&#039;s how registered accounts can help you hit your money goals.<\/p>\n          <\/div>\n  <\/div>\n<\/article>\n\n\n\n<article id=\"post-58192\" class=\"single-post-card-wrapper post-58192 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-energy-efficiency rbc_content_type-article rbc_lob_group-mortgage rbc_difficulty_level-beginner rbc_mmm_category-buying-a-home rbc_mmm_category-climate-change rbc_mmm_category-economics-101 rbc_mmm_category-goals-aspirations rbc_mmm_category-home-building-and-renovations rbc_mmm_category-money-academy\">\n  <div class=\"wp-block-rbc-single-post-card\">\n    <div class=\"latest-post-card\">\n      \t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/energy-efficiency\/\">\n\t\t\t\t\t\t\t<span>Energy-efficiency<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t              <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/home-building-and-renovations\/8-energy-efficient-home-gadgets-for-under-100\/\" class=\"h4 post-title mar-b-hlf mar-t-0 truncate-third-line\">8 Energy-Efficient Home Gadgets for Under $100<\/a>\n                    <p class=\"post-description\">Low-cost tech that can help to reduce your home energy bills and impact on the environment.<\/p>\n          <\/div>\n  <\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel pad-b-0 pad-t-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\t\n\t<div class=\"wp-block-tk-spacer id-03e05ed0-80c0-4e7b-9d7b-6bcd650b7987\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<h2 class=\"wp-block-heading mar-b mob-mar-b\" id=\"h-more-from-understanding-inflation\">More From Understanding Inflation<\/h2>\n\n\n\n<div class=\"wp-block-columns mar-b-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:60%\">\t\t<div class=\" wp-block-rbc-latest-posts wp-block-rbc-latest-posts-type-2\">\n\t\t\t\n<article id=\"post-74658\" class=\"rbc-latest-posts-content-card-type-2 post-74658 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-economy tag-managing-money rbc_content_type-article rbc_lob_group-investments rbc_difficulty_level-beginner rbc_mmm_category-economics-101 rbc_mmm_category-money-academy rbc_mmm_category-understanding-inflation\">\n\t<div class=\"col-wpr display-flex mar-b-0\">\n\t\t\t\t\t<div class=\"col-xs-5 mar-b-0\">\n\t\t\t\t<div\n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Stack of cardboard shopping boxes and a red up arrow showing rising interest.\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"640\"\n\t\t\theight=\"427\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-08-25T110315.945.jpg?quality=80&#038;w=640\"\n\t\t\talt=\"Stack of cardboard shopping boxes and a red up arrow showing rising interest.\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"mar-t-0 col-xs-7\">\n\t\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/economy\/\">\n\t\t\t\t\t\t\t<span>Economy<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/understanding-inflation\/rising-prices-shrinking-purchasing-power-how-inflation-affects-your-wallet\/\" class=\"h4 card-title loop-post-title mar-b-hlf mar-t-0 mar-b-0\">Rising Prices, Shrinking Purchasing Power: How Inflation Affects Your Wallet<\/a>\n\t\t\t\t\t\t\t\t\t<p class=\"mar-t-hlf\">As inflation increases, the value of your money decreases. Here&#039;s how inflation affects your wallet and what you can do about it.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/article><!-- #post-74658 -->\n\n<article id=\"post-74685\" class=\"rbc-latest-posts-content-card-type-2 post-74685 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-economy tag-retirement rbc_content_type-article rbc_audience-seniors rbc_lob_group-investments rbc_difficulty_level-beginner rbc_mmm_category-economics-101 rbc_mmm_category-money-academy rbc_mmm_category-understanding-inflation\">\n\t<div class=\"col-wpr display-flex mar-b-0\">\n\t\t\t\t\t<div class=\"col-xs-5 mar-b-0\">\n\t\t\t\t<div\n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Two grey-haired miniature model figures standing on life-sized spreadsheets\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"640\"\n\t\t\theight=\"427\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-08-23T120725.524.jpg?quality=80&#038;w=640\"\n\t\t\talt=\"Two grey-haired miniature model figures standing on life-sized spreadsheets\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"mar-t-0 col-xs-7\">\n\t\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/economy\/\">\n\t\t\t\t\t\t\t<span>Economy<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/understanding-inflation\/inflation-and-retirement-planning-4-strategies-to-help-protect-your-financial-future\/\" class=\"h4 card-title loop-post-title mar-b-hlf mar-t-0 mar-b-0\">Inflation and Retirement Planning: 4 Strategies to Help Protect Your Financial Future<\/a>\n\t\t\t\t\t\t\t\t\t<p class=\"mar-t-hlf\">Find some peace of mind during inflationary times with these four savings and investment strategies.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/article><!-- #post-74685 -->\n\n<article id=\"post-58148\" class=\"rbc-latest-posts-content-card-type-2 post-58148 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-economy rbc_content_type-article rbc_lob_group-ways-to-bank rbc_difficulty_level-beginner rbc_mmm_category-economics-101 rbc_mmm_category-money-academy rbc_mmm_category-understanding-inflation\">\n\t<div class=\"col-wpr display-flex mar-b-0\">\n\t\t\t\t\t<div class=\"col-xs-5 mar-b-0\">\n\t\t\t\t<div\n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Red inflationary arrow rising up beside a miniature shopping cart\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"640\"\n\t\t\theight=\"427\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-14T141940.303.jpg?quality=80&#038;w=640\"\n\t\t\talt=\"Red inflationary arrow rising up beside a miniature shopping cart\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"mar-t-0 col-xs-7\">\n\t\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/economy\/\">\n\t\t\t\t\t\t\t<span>Economy<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/understanding-inflation\/budget-busters-the-impact-of-inflation-on-everyday-life\/\" class=\"h4 card-title loop-post-title mar-b-hlf mar-t-0 mar-b-0\">Budget Busters \u2014 The Impact of Inflation on Everyday Life<\/a>\n\t\t\t\t\t\t\t\t\t<p class=\"mar-t-hlf\">Dealing with inflation is complex, but these tips can help your finances while prices remain high.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/article><!-- #post-58148 -->\n\t\t\t\t\t<div class=\"load-more-button text-center mob-pad-t-hlf pad-t\">\n\t\t\t\t\t\t<button class=\"btn tertiary mar-t-0\">View More Articles<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t<\/div>\n\n\t\t<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:10%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:30%\">\t\n\t<div class=\"wp-block-tk-spacer id-bc5b4809-4af3-4a21-99c7-333537f7e02d\" aria-hidden=\"true\"><\/div>\n\t<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-788160a8-0314-4a8e-8c91-f108b1082142\" aria-hidden=\"true\"><\/div>\n\t<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-44db61f0-636b-4b00-afea-ccb542574fbf {\n\t\theight: 64px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-44db61f0-636b-4b00-afea-ccb542574fbf {\n\t\t\theight: 64px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-03e05ed0-80c0-4e7b-9d7b-6bcd650b7987 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-03e05ed0-80c0-4e7b-9d7b-6bcd650b7987 {\n\t\t\theight: 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