The last time inflation was an issue, I was in elementary school. I remember it in a hazy sort of way from watching the evening news with my dad.
At the time, inflation was driven by an oil crisis that prompted long lines of cars at gas stations and my dad to finally trade in our four-door sedan for a fuel-efficient compact car. While there was less space in the back seat for my brother and me, the improved gas mileage meant we could afford a few more groceries.
Inflation felt like a distant memory for decades, but it's back in a big way. With consumer prices up 9% this summer over the same time last year, I can't help but think about how this financial pinch affects patients. When costs are up but incomes haven't kept pace, discretionary spending suffers.
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