Local inflation levels are hanging over clients, and the November elections, like a giant bag of unsorted change.
The U.S. Bureau of Labor Statistics' Consumer Price Index for All Urban Consumers, or CPI-U, rose "only" 2.9%, year over year, in July, but, for a worker who retires at age 65 today and lives 30 years, even that inflation rate could cause the price of a $5 cup of tea to rise to about $12.
Inflation can also create a vicious cycle, with overall inflation pushing up the price of health care, and the price of health care pushing up the inflation.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
