Inflation, as measured by the Consumer Price Index, was 3.7% higher on an annual basis in August, reversing a trend of falling inflation figures. According to Bloomberg, persistently elevated inflation has caused household incomes to fall by the largest margin since 2010.
“This was bad news for Americans who feel inflation most acutely when filling their tanks and writing their rent checks. Some rent relief is in sight, but it won’t occur until next year, and it will be a small comfort given how high shelter costs have risen. And given [that] core inflation rose, it’s clear inflation around current levels may be with us for months.”—Robert Frick, corporate economist at Navy Federal Credit Union
How can Americans prepare their retirement portfolios for inflation’s effects?
Click on the video link below for exclusive executive insights on this topic from Philip N. Diehl, 35th Director of the U.S. Mint and President of U.S. Money Reserve.
Related headlines from around the web:
- Fox Business: “Inflation accelerated in August to 3.7% as consumer prices [heated] up again”
- The Wall Street Journal: “U.S. Incomes Fall for Third Straight Week”
- Reuters: “Gold hits 2-week high as Fed policy [meeting] grabs attention”
Protect your portfolio with precious metals today.
Gold has historically been used as a hedge against economic uncertainty and market turbulence. As paper-based assets like stocks continue to experience volatility and inflation continues to deflate the dollar’s purchasing power, now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.