Inflation can affect the price of everything, from food and housing to transportation and clothing.
And rising prices can drastically change your standard of living. Even moderate levels of inflation will reduce the value of your money over time. For example, to match the purchasing power of every $10,000 you have in savings today, you’ll need $16,400 in 20 years if annual inflation runs at 2.5%.
It’s not possible for anyone to say with certainty how fast prices will rise in the future.
But you can bet there will be some inflation over the long term. Use this calculator to determine the impact inflation may have on your standard of living, and what your living expenses might cost you in the future.